crawb
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- Posted Does turbotax pension splitting optimizer consider transfers which may result in higher total tax for the spouses but which is offset by increased OAS in future years? on Seniors and students. October 30, 2019 2:06 PM
- Posted How do I remove split pension information from online turbotax? on Seniors and students. October 30, 2019 1:35 PM
October 30, 2019
2:06 PM
Does the pension splitting optimizer only determine an amount of pension transfer which produces the lowest combined tax for a couple; or does it also take into account pension transfers which may increase total tax in 2017 but which would be offset by greater old age security payments to one of the spouses in 2018-19? If my wife now transfers to me (the higher income spouse) a much larger amount of her pension than the optimizer recommends, resulting in her not having any old age security clawback, this causes a significant increase in our total tax for 2017 but it would be offset because my wife would receive greater OAS benefits after July, 2018 than she is now receiving. Does the optimizer take into account future increases in OAS benefits?
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