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Splitting income


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Hello Tapestry,

Pension Split

The program automatically processes the tax you already paid on the eligible pension income in proportion to the elected split-pension amount.

 

This result is on :

Spouse Return : Elected split-pension amount [11600 ]

Family Head Return : Deduction for elected split-pension amount [2100]

 

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The calculation can also be viewed in Step 5 of the federal T1032 form, available under the "Tax Return" tab.

 

To view the optimization and savings for the pension split pleas refer to the report “Report on split-pension income”.  The split is not always optimal at 50%, and this report will show you with and without the allocation.

Report on split-pension income – 2023

 

Checklist - Medical expenses

Report on split-pension income  < - - - HERE

Report - tax savings reconciliation

Worksheet (Federal) p1

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