- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Bug in offsetting Box 18 T4RSP income with corresponding RSP contribution receipt - deceased spouse
Am starting a new thread because a similar thread called this issue "solved", and it is not.
I just got off a very frustrating phone call with TurboTax help. Turbo tax is not allowing me to properly deduct the contribution receipt that was provided to offset the Box 18 amount on the T4RSP, due to a spouse's death.
TurboTax default is to carry forward any amount over and above current RSP room. Well, my mother has $6K in RRSP room but has a $126K RSP contribution receipt to offset the $126K on the T4RSP.
Previous answers indicate to check the box that specifies that this was a "Designated Transfer of an Eligible Amount." But THERE IS NO BOX TO CHECK!
There is a work-around mentioned in another thread, which I've copied & pasted below. I guess this is what I will have to do, however, it stuns me that TurboTax does not have an actual solution to this. I feel concern that CRA is not going to like the workaround below as it does not put the RSP contribution receipt on the right line, which increases risk of audit or reassessment. I am also terribly concerned that TurboTax help seemed to have no idea what I was talking about and could not help me in any way.
I would dearly appreciate any help that can be provided.
The correct method is to put it under "other deductions" which is line 23200 in the tax return form. To do this in Turbo Tax you have to go through a number of steps: got Personal Tax Profile under MyInfo; select Other Credits and Deductions; select Other Deductions, scroll to the bottom and select "I had other deductions not covered above" When you get to appropriate section where the information is enter you need to fill in the box with the explanation of what it is.