sdartana
New Member

Enter a transfer RIF receipt under section 60(L)(v)

I entered the transfer RIF receipt as instructed by turbotax, but it didn't offset the income RIF that was transferred. i expected it to decrease the amount of taxes that has to be paid but it didn't do anything.
‎April 15, 2020 7:02 AM
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TurboTaxKim
Level 15

Importing your data

The version of TurboTax you are using will determine how you will enter the transfer. 

 

  • If you are using TurboTax Online, you will need to enter this way:
    • From the sidebar in TurboTax, click on RRSP > RRSP Profile > and check the box beside Transfer to RRSPs.
    • Then when you continue through, you will land on a page titled "Transfers to RRSPs/PRPPs. On this page the amount you enter from the corresponding T-slip should show up there and can be "designated" as a transfer.
  • If you are using TurboTax installed on your computer from a CD/Download
    • You need to check off that you made an RRSP Contribution in the RRSP Profile
    • Then on the contribution page, you will enter the amount of the transfer as a regular contribution, and again on the same page as a Designated Transfer.

The attached screenshots show the entries you need to make for both versions of TurboTax.

‎April 17, 2020 11:43 AM
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