Do I need to enter the pension income tax credit as income?
Where to find it: TIME MACHINE results → Detailed Cash Flow → Taxes
No. Enter the pension or annuity using its correct income source and owner. TIME MACHINE calculates the supported pension-related credits as part of the tax calculation when the income and age conditions apply.
A tax credit reduces tax; it is not an extra pension payment to add in INCOMES. Adding an income equal to an expected credit would overstate cash received and could also change taxable income.