CPP Overpayment on T4

Forum|Forum|1 year ago
April 13, 2024
2 replies
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One of the warnings at review is that I overpaid my CCP benefits on the T4, is there a way to correct and claim the overpayment as a tax credit?

TurboTaxBrenda

As per the CRA: If you were not a resident of Quebec on December 31, 2023, and you contributed more to the Canada Pension Plan (CPP) than you had to (see line 30800), claim the overpayment on line 44800 of your return. The CRA will refund the excess contributions to you or use them to reduce your balance owing.

When in your return under refund or amount owing top left - you will see a drop-down arrow- click on it and click on View detailed tax summary, you should see your overpayment CCP amount on line 44800.

MarioMcG88

I think my issue is the opposite... I contributed the max amount for cpp and cpp2 for 2024. I entered those amounts in box 16 & 16A. Line 30800 is showing 0$ and Line 44800 is showing 4055.50 which is the combined totals for 16 & 16A. This doesn't seem right.

TurboTaxAniqua

Are you using a TurboTax Desktop or an Online version?

Thanks for choosing TurboTax.

TurboTaxAniqua

We suggest to check this link from CRA for CPP2 to enter the correct information in TurboTax Online while reporting CPP2 to make sure that is added correctly.

MarioMcG88

Thanks for the additional information.

It seems pretty straightforward, I reached the first ceiling (Max contribution $3867.50) and entered the amount in box 16. i reached the second ceiling (Max contribution $188) and entered that amount in box 16A. In Box 26, i entered the max pensionable earnings for 2024 ($68500). I even tried entering the additional maximum earnings amount ($73200) but that didn't change anything.

I don't understand why i entered the amounts in the T4 section but they don't appear on line 30800 and then they appear as an over payment at line 44800 therefore affecting the bottom line with a refund. My filing is pretty simple, i literally entered the amounts from my T4 and nothing else.

TurboImpotVeronique

@MarioMcG88 Our teams are working to resolve this issue but to help them collect all the information they need, we need our customers to contact product support to report it.

At this time, some CRA forms are still being reviewed by them for the 2024 tax season, which could explain why some calculations are not done correctly or do not appear. As soon as they are ready, TurboTax will be updated.

Thank you fir choosing TurboTax.