Can I enter my retirement allowance that was directly deposited to an RRSP as a designated transfer ?

My retirement allowance was directly deposited to my RRSP. I understand that retiring allowances directly deposited to an RRSP don’t have to be included on my tax return. However there is a designated transfer option on the RRSP screen. Is that where I enter my retirement allowance in my case.

Seniors and students

When an RRSP or RRIF is transferred, you should have two tax slips - a T4RSP or a T4RIF showing a withdrawal amount, then a corresponding "Contribution Slip" (or receipt) showing the direct transfer which is exempt due to subparagraph 60(l)(v). Both these slips need to be reported on the tax return.

Report the T4RSP or T4RIF as income (Income > Tax Slips > choose the slip you have then proceed to that screen and enter the corresponding boxes) . The Total Income will reflect the amount of the transfer, but do not worry, this amount will be deducted in the next section to arrive at the Net Income.

Then enter the RRSP or RRIF receipt as an "RRSP Contribution" in the RRSP Profile section. You need to specify on the RRSP Contribution screen that this was a "designated transfer of on eligible income amount".

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