bcasey123 Posted February 28, 2021 Report Share Posted February 28, 2021 I have pension income on a T4RIF, that defaults to line 13000 when entered. I am eligible for the pension income tax credit, but cant find where to enter it. Or should box 16 from the T4RIF default to line 11500 instead and if so, how do I change that? Quote Link to comment Share on other sites More sharing options...
TheTaxSmith Posted February 28, 2021 Report Share Posted February 28, 2021 Hi bcasey123. Are there any amounts in any other boxes and if so what are the box numbers for the other entries? The software will place Box 16 amounts on line 13000 due to some other conditions for why you received the RRIF payment. Quote Link to comment Share on other sites More sharing options...
bcasey123 Posted February 28, 2021 Author Report Share Posted February 28, 2021 Just the 10% tax deducted and the excess amount in box 24, which is equal to box 16. Quote Link to comment Share on other sites More sharing options...
TheTaxSmith Posted February 28, 2021 Report Share Posted February 28, 2021 Hi bcasey123. Are you over 55? Box 16 should appear on line 11500 even if you entered the amount as well in Box 24. You should also see the amount for the pension income tax credit. Look at the data entry for your T4RIF slip again and make sure you used the top Box 16 area for the amount and that there are no erroneous entries other than for the Excess and the Tax. Quote Link to comment Share on other sites More sharing options...
bcasey123 Posted February 28, 2021 Author Report Share Posted February 28, 2021 Hi TheTaxSmith. Yes, I'm over 55. Just double checked my T4RIF slip entry and it appears to be entered correct. I have entered just the amounts in box 16, 24 and 28. Any way I can override this in Ufile? Quote Link to comment Share on other sites More sharing options...
TheTaxSmith Posted February 28, 2021 Report Share Posted February 28, 2021 Hi bcasey123. That's a question for support. I tested the situation and all seems to be in order. I am using a Windows version 24.11, not the Online version. I suspect however that there is something entered somewhere in the data that is causing the difference. Good luck and maybe post how you got the situation resolved. Quote Link to comment Share on other sites More sharing options...
bcasey123 Posted February 28, 2021 Author Report Share Posted February 28, 2021 Thanks for the help TheTaxSmith. I am on version 24.11 as well. Seems like a defect in the program. I'll contact support. Quote Link to comment Share on other sites More sharing options...
Canridge Posted March 3, 2021 Report Share Posted March 3, 2021 bcasey123 have you had any luck with your pension T4RIF editing??. I was just looking and may run into the same problem. Any leads would be gratefully accepted. Thanks canridge563 Quote Link to comment Share on other sites More sharing options...
bcasey123 Posted March 5, 2021 Author Report Share Posted March 5, 2021 Nothing yet, been meaning to call support. Hopefully I have time tomorrow. I’ll post on here if I figure it out. Quote Link to comment Share on other sites More sharing options...
bcasey123 Posted March 6, 2021 Author Report Share Posted March 6, 2021 Are there any tax experts here that can provide some guidance on whether I am eligible for the pension income tax credit or not. My understanding was that I am eligible since I am over age 55, but Ufile support seems to believe otherwise. CRA guidelines for line 11500 indicate that I can't report this income here, but instead on line 13000 which prevents the credit from being available. Pension Income Tax credit guidelines for line 31400 clearly state what income is not eligible and mine does not fall in those identified, as it was simply a pay out from a PRIF. Appreciate any help you can provide as the CRA guidelines do not seem to be clear. Quote Link to comment Share on other sites More sharing options...
TheTaxSmith Posted March 6, 2021 Report Share Posted March 6, 2021 Hello bcasey123. Did you turn 65 in 2020? Did you transfer any of the amount to a RRIF? You have indicated that it was a payout from a Prescribed Registered Retirement Income Fund, is that correct? Try using the Q&A format at the following link: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-31400-pension-income-amount/you-claim-pension-income-amount.html Quote Link to comment Share on other sites More sharing options...
bcasey123 Posted March 6, 2021 Author Report Share Posted March 6, 2021 I'm under 65, didn't transfer anything and correct, it was from a PRIF. Based on the CRA Q&A's, it looks like I am not eligible. Interesting, cause they seem to explain in detail which incomes are not eligible but don't speak to my type, which lead me to believe it would be eligible. Advice I was given indicated and what I had previously found was that I would be eligible. Guess that was wrong. Quote Link to comment Share on other sites More sharing options...
TheTaxSmith Posted March 6, 2021 Report Share Posted March 6, 2021 Hi bcasey123. Glad I was able to help but sorry that you are not eligible. There were a few other situations I was gong to ask with respect to the amount but wanted that age question resolved. Are you in Manitoba or Saskatchewan? Quote Link to comment Share on other sites More sharing options...
bcasey123 Posted March 6, 2021 Author Report Share Posted March 6, 2021 Saskatchewan. And thanks for the help, TheTaxSmith, it's much appreciated. Quote Link to comment Share on other sites More sharing options...
Jocelyne Posted March 19, 2022 Report Share Posted March 19, 2022 Hello, I have the same problem with the RRIF revenu. It appears on line 13000 instead of 11500, thus no tax credit is issued. I am between 55 and 65. It is a RRIF. I have verified the entries I have made, all is in order. Can you help ? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.