Hello.
I have entered a $900 political party donation into Turbotax. However, the amount of tax credit being refunded to me has not increased. The same problem also applies to charitable donations I have made and entered into Turbo Tax. Again, the amount of tax credit being refunded to me did not increase. Is there a problem with the software? (I am using TurboTax Self-Employed).
The political contribution credit is non-refundable (except the Ontario credit). This means you only get it if you need it to reduce your taxes owing. So, if you don’t have taxes owning, you won’t get the credit. If you only have some taxes owing, then you'll only get enough of the credit to reduce your taxes to zero.
LeeNic
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Loonieburger
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ice918lander
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