I've been using Turbo Tax Canada for a number of years. My spouse works for the Federal Government, she was fortunate enough to be allowed to do a Pension Buyback through regular monthly payroll contributions. I've read a lot about Pension Buyback and in every forum, I see that it's supposed to be tax deductible. However, when I enter the buyback amount (line 20 [includes RPP amount], 74 and 75) on T4, the tax return goes from a refund, as an example, to owing money. Am I missing something here?
Thank you,
R Cormier
When tried in TurboTax Desktop- it shows a refund with the amounts you gave- Did you use TurboTax Online? Please make sure that you entered the proper amounts in the right boxes.
Thank you for choosing TurboTax.
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