If your reported donations don't appear on Schedule 9, it means the optimizer has determined there's no tax benefit in claiming them this year. Here's how to understand and adjust this:
Why donations might not appear:
- The optimizer carries forward donations when it's more beneficial
- This ensures you get the maximum tax benefit over time
To view your donation allocation:
- Go to the Summary section in your Wealthsimple Tax profile
- Expand the Credits and Deductions table
- Check the Donations to registered charities row for the current year's claim
- View the Unused amounts available to carry forward table for future years
To claim donations in the current year:
- In the Summary section, locate the Credits and Deductions table
- Find the Donations to registered charities row
- Enter the amount you want to claim this year
- Click Lock amounts on the right to prevent further automatic adjustments
Important notes:
- Claiming donations when there's no tax benefit may reduce future benefits
- The optimizer aims to maximize your overall tax advantage across multiple years
Remember:
- Review the optimization results before making manual adjustments
- Consider long-term tax implications when changing donation claims
If you need assistance adjusting your donation claims in Wealthsimple Tax, please contact Wealthsimple support. For questions about the tax implications of your charitable donations over multiple years, consider consulting with a tax expert.
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