nvteja
New Member

Where to deduct 401K contributions on US income in Turbotax?I dont have RRSP contribution room as I moved to CA in mid 2018, so I cant enter it there. Any other place?

 

Seniors and students

Sample entry for deposits made to a 401K plan in the US by a US based employee residing temporarily in Canada.

Seniors and students

In order to provide the information on your 401K contributions you will need to use the RRSP section. of the software.

You can access the applicable screens in the RRSP section of Turbo Tax. Under the RRSP menu select > RRSP Profile and "U.S. or Foreign Employer"... then check the appropriate box.  Provide the required information on the next screen.

The allowable deduction will be claimed on Line 207, "Registered Pension Plan" rather than Line 208 "Registered Retirement Savings Plan".

nvteja
New Member

Seniors and students

Hello, Entering information under "U.S or Foreign Employer" section did not add any deduction to the "Registered Pension Plan" section. Instead, I searched for "Registered Pension Plan" on Turbotax and entered the amount in "Amounts transferred to RPP" . Is this correct?

Seniors and students

Hi nvteja, no I am sorry this is not correct as you have not transferred any money into a Canadian Registered Pension Plan. See my screen shots below for an example.
nvteja
New Member

Seniors and students

Thank you so much. Looks like its working now!

Seniors and students

You are most welcome.
poojamm
New Member

Seniors and students

Is this process still the same? I was unable to find the US employer section under RRSP profile?