My husband transferred some of his RRSP's from RBC into another RRSP at CIBC. I entered the T4RSP info, but can I also add the amount in box 22 into the RRSP transfer?

My husband transferred a portion of his RRSP's from one bank insitution into another RRSP at another bank. I have entered all the information on his T4RSP, however do I also enter this as an RRSP tansfer? Otherwise it looks like it is being calculated towards his income?

BobM3
New Member

Seniors and students

the answer shown does not make it clear how to declare the transfer to another rrsp
MY income calculated so far is artificially high and my RRSP "contribution limit" is zero and the form will not allow me to show the transfer as anything other than a contribution. This seems a simple thing made complicated. please help NOW!!

Seniors and students

@BobM Please see the instructions below :relieved:

Seniors and students

To enter your RRSP transfer to another RRSP, after entering the T4RSP information, you'll need to designate that contribution to offset the income reported.

  1. Select Find in the upper-right hand corner.
  2. In the Find window, type RRSP Profile
  3. Select RRSP Profile from the list and then select Go.
  4. On the Your RRSP Profile step, check Made RRSP Contributions during 2018 or the first 60 days of 2019, and then select Continue.
  5. On the What’s your RRSP/PRPP deduction limit step, enter your deduction limit, (if zero, leave blank) and then select Continue.
  6. At the RRSP Contribution step, enter the amount of your eligible retirement allowance that you transferred to your RRSP, as shown on the receipt from your financial institution.
  7. Then under Transfers to RRSPs, enter the amount of the transfer as shown in the attached screenshot.
  8. If you’re using a TurboTax CD/download edition: At Is this RRSP contribution a designated transfer of eligible income amount? If so, enter the amount that is a designated transfer, enter the same amount again.

Seniors and students

In addition to the T4RSP slip for the RRSP withdrawal, you received, you should also receive an RRSP Contribution Slip for this transfer. You'll need to enter that slip as a "Designated Transfer" in the RRSP section. The two will then offset each other, with the T4RSP included in income, and the "Contribution" claimed as an RRSP "deduction".