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Pro Tax T1 pension splitting

by Intuit Updated 1 year ago

This article details how to acquire the optimum pension-split amount for a couple. Pension splitting is only supported in Pro Tax on spouse-linked returns in tax years of 2021 and later.

  1.  Open the form T1032 in the return of the person transferring the pension. If it's not in the forms list, select Add new form or letter to add it.
  2. Click the radio button indicating the person is the pensioner.
    pensioner pro tax.png
  3. Click on the lightbulb on the left side of the return.pension split.png
  4. Pro Tax will optimize the form and populate with the optimal suggested split-pension information. A graph displays various impacts on the combined refund/balance dues at various pension income-split dollar values.
  5. Selecting Optimize will add the suggested amount to box 68025.
  6. At the bottom of the optimization window, select Save and close to save the changes, or cancel to go back to the return.

optimization graph.png

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