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drubin999
New Member

TurboTax is not deducting the federal tax credits from taxes owing amount

Hello,

 

I'm currently doing my taxes and noticed the following when a view the detailed summary.

Line 35000 (Total federal non-refundable tax credits) $2610.13

Line 40600 (Federal Tax) $2703.78

Line 42800 (Provincial Tax) $1104.84

Line 43500 (Total Payable) $3808.62

 

My question is, shouldn't the non refundable tax credits in line 35000 be deducted from line 40600? Isn't that the purpose of non refundable tax credits...to reduce the tax amount someone has to pay? From what I see, the software is not deducting the non refundable tax credits from the federal taxes (Line 40600)

 

Please advise

 

Thanks,

Domenic

1 Reply

TurboTax is not deducting the federal tax credits from taxes owing amount

Line 35000 is removed from taxes to calculate line 42900 (Basic Federal Tax). Line 43500 is Line 40600 + Line 42800. 

 

 

 

 

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