This article applies only to partners with linked profiles in Wealthsimple Tax.
How credits are initially allocated:
When you add credits and deductions from shared sections, Wealthsimple Tax initially allocates them to the partner who may benefit most
Optimization process:
- Complete both your profile and your partner's profile
- Navigate to the Review & Optimize section near the bottom of either profile
- Click the Review & Optimize button
- Wealthsimple Tax runs numerous calculations to determine:
- Who should claim each credit
- How to split credits between partners
- Whether to carry forward credits to future years
Viewing optimized results:
- After optimization, the Credits and Deductions table will appear in the Summary > Optimizations section
- This table shows how credits have been allocated between partners
Reviewing and adjusting allocations:
Important notes:
- Not all credits are eligible for optimization
- Some credits may be split, while others must be claimed by one partner
- Optimization aims to maximize tax benefits for both partners
If you need help navigating the optimization results in Wealthsimple Tax, please contact Wealthsimple support.
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