Enter a transfer RIF receipt under section 60(L)(v)

[sdartana]

I entered the transfer RIF receipt as instructed by turbotax, but it didn't offset the income RIF that was transferred. i expected it to decrease the amount of taxes that has to be paid but it didn't do anything.

[TurboTaxKim]

The version of TurboTax you are using will determine how you will enter the transfer. 

• If you are using TurboTax Online, you will need to enter this way:
  • From the sidebar in TurboTax, click on RRSP > RRSP Profile > and check the box beside Transfer to RRSPs.
  • Then when you continue through, you will land on a page titled "Transfers to RRSPs/PRPPs. On this page the amount you enter from the corresponding T-slip should show up there and can be "designated" as a transfer.
• If you are using TurboTax installed on your computer from a CD/Download
  • You need to check off that you made an RRSP Contribution in the RRSP Profile
  • Then on the contribution page, you will enter the amount of the transfer as a regular contribution, and again on the same page as a Designated Transfer.

The attached screenshots show the entries you need to make for both versions of TurboTax.