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leggore
New Member

Home buyers repayment didnt show up to the CRA...I confirmed that I entered an amount in TurboTax before I filed...

my assessment came in he mail and CRA added income to my total because they didn't see the HBP repayment even though I entered one.

1 Best answer

Accepted Solutions
TonyC11
Level 6

Home buyers repayment didnt show up to the CRA...I confirmed that I entered an amount in TurboTax before I filed...

You needed to make sufficient RRSP contribution in 2015 to cover your repayment.
Assuming you did that, it appears you reported incorrectly.

You will need to either submit a T1-Adj. to show the correct amounts, or simply let it ride.
If CRA does not receive an HBP repayments, it proceeds as if you have permanently withdrawn the repayment amount and adds it to your Total Income line 150 where it becomes taxable at your marginal rate.

View solution in original post

2 Replies
TonyC11
Level 6

Home buyers repayment didnt show up to the CRA...I confirmed that I entered an amount in TurboTax before I filed...

You needed to make sufficient RRSP contribution in 2015 to cover your repayment.
Assuming you did that, it appears you reported incorrectly.

You will need to either submit a T1-Adj. to show the correct amounts, or simply let it ride.
If CRA does not receive an HBP repayments, it proceeds as if you have permanently withdrawn the repayment amount and adds it to your Total Income line 150 where it becomes taxable at your marginal rate.

View solution in original post

Leeanne-TurboTax
New Member

Home buyers repayment didnt show up to the CRA...I confirmed that I entered an amount in TurboTax before I filed...

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