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posted Apr 9, 2024 8:14:54 AM

RRSP overcontribution

I over-contributed to my RRSP for the 2023 tax year. In February 2024 I sold some in order to get back under the limit.  I'm not sure how/if I need to report the sale on my 2023 taxes. The bank withheld taxes and I understand I will get a T4RSP issued for 2024.  Do I need to report anything in 2023? And if so, how?  THANKS!

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Moderator
Apr 9, 2024 9:30:00 AM

Yes you will need to report your RRSP sale with the T4RSP received. This sell will increase your income for the fiscal year 2023. 

 

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