If you want to change how the optimizer has allocated certain amounts in your Tax profile, follow these steps:
Modify optimization results:
- Navigate to the Summary > Optimizations section in your profile
- Locate the item you want to change in the Credits and deductions table
- Enter your preferred amount in the corresponding field
- Click "Lock amounts" next to the amount to prevent further automatic adjustments
Important: When you change an optimized amount, be aware of these potential effects:
- Carry-forward amounts:
- If the item can be carried forward, any unused amount will move to (or from) the Unused Amounts Available to Carry Forward table
- Split amounts with a partner:
- For items that can be split between partners (e.g., donations), changing your amount will automatically decrease (or increase) your partner's amount to balance it out
- Donations:
- Donations are treated similarly to carry-forward amounts in the optimization process
Remember:
- The optimizer aims to maximize your tax benefits, but you have the flexibility to override its decisions
- Consider the long-term tax implications when manually adjusting optimized amounts
To revert your changes:
- Remove the manual entry you made
- Unlock the field by clicking "Unlock amounts"
- Click "Review & Optimize" to recalculate based on the original data
If you need assistance adjusting optimization results in Wealthsimple Tax, please contact Wealthsimple support.
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