Does Turbo Tax provide me with a partially filled T1032 Joint Election to Split Pension Income form? If not, will I be able to use the final report to fill out the T1032?

Forum|Forum|2 years ago
March 21, 2024
3 replies
0 views

I briefly looked at the T1032 form and it seems intimidating. Am I on my own to fill this out?

I am leaning heavily on the "There's no such thing as a stupid question" here.

TurboTaxSusan

If you are preparing your return with a spouse, then TurboTax will do all the calculations for you. The pension split optimizer will even suggest and amount for the split.

p_robidoux-hotmaAuthor

I agree and understand. I

Turbo Tax already optimized the pension split and that is awesome.

Does Turbo Tax provide me with T1032 form?

TurboTaxSusan

Yes. It's generated as part of your tax return.

8074076035

I have not found the income splitter. it is asking me for the amount and to fill it in. Ive been doing this since income splitting began and never had this issue before. I am doing our 2023 tax returns.

Henryhound

On turbo tax basics does it automatically do income splitting if you check yes on both spouses boxes on the 1032 form

TurboTaxBrenda

Community Manager

Yes, TurboTax will calculate the income splitting for you. We always suggest that you use the pension splitting optimizer to make sure that you are getting the best return.

Thank you for choosing TurboTax.

TurboTaxSusan

@8074076035 Are you preparing your return together with your spouse or separately?