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I entered an RRSP amount in error but am unable to delete, when I go to profile it shows "nothing entered" but it does still show on my return. How do I delete it?
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Seniors and students
Are you using TurboTax CD/Download or TurboTax Online?
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Seniors and students
Hi, TurboTax online. But I did find a way to delete the entry by going about it using the left side menu instead of the search menu. The spyglass search kept taking me to answers that were of no help.
But, perhaps you can help me with another question. I'm over the age of 71 but have RSP room. My wife is younger and has no RSP room so I want to open a spousal rsp. I'm thinking it would be deducted as though it is hers', under her name. Is this correct? Thanks for your help!
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Seniors and students
As per our TurboTax article RRSPs and Your Tax Return: The Bottom Line you can contribute to a personal RRSP or a spousal/common-law partner RRSP. The amount you can contribute to her/his plans depends on your own contribution room, not your spousal’s. In other words, it doesn’t matter if your spouse has a higher or lower contribution room, it will not be affected if the contribution came from you.
Whether you contribute to your own or to a spousal RRSP, they both affect your contribution room.
Thank you for choosing TurboTax.