Hi,
I am US resident and not work now. I am doing my 2010 Canadian tax with section 217 return now. I withdrew ~$20k RRSP in 2010.
Quesstion
Can I claim child's amount? I have two young children.
non working wife withdraw rrsp. Can I claim child's amount?
Moderator: Mark T Serbinski CA CPA
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springflower
- Posts: 15
- Joined: Sat Oct 30, 2010 8:49 pm
On a 217, you can, but this requires reporting spouse's income of page 1, which will rwsult in having too high income for spousal and child amounts.
You can do the medical amount however, and include all your spouses premiums and co-pays, and only your income will be used to determine the credit.
By using these credits, you usually can take aout more than the $10K untaxed.
You can do the medical amount however, and include all your spouses premiums and co-pays, and only your income will be used to determine the credit.
By using these credits, you usually can take aout more than the $10K untaxed.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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springflower
- Posts: 15
- Joined: Sat Oct 30, 2010 8:49 pm
nelsona,
I am doing a 217 return for my non-working spouse with a RRSP withdrawal (both of us are US residents) but for some reason UFile desktop and online allow me to claim children's amounts, in addition to basic and medical. I enter my own income and see it on page 1 of my spouse's return but the children's amounts on lines 366 and 367 are still there. Unfortunately, UFile does not allow me to drill down into the calculation.
What am I doing wrong? Is there a special way to enter my own US-based income? As a sanity check, if I enter even 10K of Canadian sourced income then I see the children's amounts disappear.
Thank you
I am doing a 217 return for my non-working spouse with a RRSP withdrawal (both of us are US residents) but for some reason UFile desktop and online allow me to claim children's amounts, in addition to basic and medical. I enter my own income and see it on page 1 of my spouse's return but the children's amounts on lines 366 and 367 are still there. Unfortunately, UFile does not allow me to drill down into the calculation.
What am I doing wrong? Is there a special way to enter my own US-based income? As a sanity check, if I enter even 10K of Canadian sourced income then I see the children's amounts disappear.
Thank you
First off, are you just doing a "practice" 217 for next year, as the deadline for 2104 as long past? June 30th was the deadline.
Second, I stay away from solving software issues, particularly on matters that aren't being filed anyway.
217 returns are not precluded from claiming this child amount, if you correctly enter all the information in Ufile next year, and your world income appears on page 1, I would simply file it as is. CRA will correct if necessary. Otherwise take it up with Ufile once the 2015 software is finalized.
If you are convinced that she should not be getting the child amount next year, and you want to file an accurate return, then simply do not include the children at all in her profile.
Second, I stay away from solving software issues, particularly on matters that aren't being filed anyway.
217 returns are not precluded from claiming this child amount, if you correctly enter all the information in Ufile next year, and your world income appears on page 1, I would simply file it as is. CRA will correct if necessary. Otherwise take it up with Ufile once the 2015 software is finalized.
If you are convinced that she should not be getting the child amount next year, and you want to file an accurate return, then simply do not include the children at all in her profile.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
nelsona,
I am doing a practice 2015 section 217 return to estimate how much we can withdraw from RRSP while keeping the tax to a minimum.
In a number of posts you give a rough rule of thumb that a non-working spouse can withdraw from RRSP approximately personal amount + medical expenses + Canadian charities contributions using 217 return. However, I’ve never come across a mention of children amount. In this post you mention the non-working spouse would be precluded from getting the child amounts because of high income of the other spouse but 2014 UFile was allowing me to keep them (she was not getting the spousal amount) so I wanted to double check.
In any case, it seems like the Child Tax Credit is being replaced with enhanced UCCB for 2015
http://www.cra-arc.gc.ca/gncy/bdgt/2014/qa12-eng.html
TD1-2015 does not have the children amount anymore.
So I think I will keep it safe and not count on children amount for the RRSP withdrawal.
Once again thank you so much for your time and the wealth of information you so kindly share
I am doing a practice 2015 section 217 return to estimate how much we can withdraw from RRSP while keeping the tax to a minimum.
In a number of posts you give a rough rule of thumb that a non-working spouse can withdraw from RRSP approximately personal amount + medical expenses + Canadian charities contributions using 217 return. However, I’ve never come across a mention of children amount. In this post you mention the non-working spouse would be precluded from getting the child amounts because of high income of the other spouse but 2014 UFile was allowing me to keep them (she was not getting the spousal amount) so I wanted to double check.
In any case, it seems like the Child Tax Credit is being replaced with enhanced UCCB for 2015
http://www.cra-arc.gc.ca/gncy/bdgt/2014/qa12-eng.html
TD1-2015 does not have the children amount anymore.
So I think I will keep it safe and not count on children amount for the RRSP withdrawal.
Once again thank you so much for your time and the wealth of information you so kindly share