This does not answer the question. In which of the 3 places do we put the amount in Box 24?
We are talking about a T4RIF which is a withdrawal by definition I think. The tax payer transferred money from an RRSP into a RIF so that they could withdraw it to use up the $2000 pension deduction. There was no required RIF withdrawal as the tax payer is not 70 yet so the entire amount is an Excess amount. It makes a big difference if the box 24 entry is in "Transferred to RRIF" compared to "Withdrawal payment". A deduction is given for the former but not the later. A clear explanation for the purpose of each of these items is needed because it appears that 2 out of the 3 apply to my tax payer.
This does not answer the question. In which of the 3 places do we put the amount in Box 24?
In this case it sounds like it should be a transfer. If clarification is needed please contact the financial institution who sent the information slip.
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