Seniors and students

The RRSP Contribution year is not based on the calendar year. Contributions made in the 1st 60 days of the current year effect your contribution limits for the last year. So, any contributions you made in the 1st 60 days of 2022 will need to be reported on your 2021 tax return.

 

However, you don’t have to take the deduction that year if you don’t want to. In TurboTax Online, select RRSP>RRSP Contributions to be carried forward to change the amount of the RRSP deduction you are claiming for the year.