Do I use the RRSP deduction limit for 2022 (from 2021 NOA) before or after "Unused RRSP Contributions" as 2022 deduction limit in RRSP profile in Turbo Tax?
Also, if contributions made in 2022 exceed the limit after unused contribution room, will the excess automatically roll to further increased unused contribution room?
Yes, you will use your deduction limit that is shown on your NOA for 2021, for your 2022 tax year. Then enter how much you have contributed. Know that you have a cumulative lifetime over-contribution limit of $2,000 that acts as a cushion in case you mistakenly exceed your RRSP deduction limit. You will not receive a tax deduction for these excess contributions.
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