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Canadian Tax, RRSP transfer of eligible retiring allowance
How do I enter an RRSP contribution that was transferred directly from my employer to my RRSP, this is classified as a retiring allowance transfer. This should mean it is deducted from my employment income to calculate taxable income, before taxes are calculated - correct me if I am wrong here.
I have entered the transfer amount when entering my T4 using Box 66 - which is the correct treatment according to CRA. I have also entered a RRSP contribution and entered the amount in the Designated Income Transfer box. The result was the amount did not get deducted from my taxable earnings. Do I also need to enter it in the contribution line - if I do this it still does not deduct the amount from employment income to calculate taxable income? I am starting to think this is a TurboTax calculation error, how do I report that ? THANKS SO MUCH, in advance.
2 weeks ago