The amount you designate for transfer to an RRSP/PRPP cannot be greater than the eligible income reported for transfer.

 

Seniors and students

Do you have qualifying income reported on any of a T4, T4A, T4RIF, T4RSP (etc) that can be transferred?

Seniors and students

All I have entered is my income from employment from my t4. No other income.

Seniors and students

Then you would not be transferring any amount for RRSP purposes. Are you making a new contribution to your RRSP?

Seniors and students

Please clarify the nature of the payment you are considering to designate as a transfer.  The CRA has the Guide T4040 RRSPs and Other Registered Plans for Retirement: http://www.cra-arc.gc.ca/E/pub/tg/t4040/t4040-e.html#P2464_83200  Where charts 8 & 9 discuss amounts that can be transferred either indirectly or directly.

Seniors and students

Have you transferred any funds to your registered plan? How is this being reported to you?

Seniors and students

OK.  All I did was fill out my T4 income into the T4 field.  Then I filled out my RRSP contribution from the RRSP tax receipts. It was only a $400 contribution. That's it.

Seniors and students

I'm not trying to transfer anything.

Seniors and students

Under the "RRSP" tab > then "RRSP Profile" make sure to uncheck the box that says "Transfers to RRSP".

Seniors and students

If that box is not checked you should not see the "Transfer" area in Turbo Tax. Where are you seeing this message?