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New Member
posted May 8, 2020 2:32:53 PM

Why is there a RRSP income that matches my HBP? When I allocated this amount to my HBP repayment it gives me an error as HBP 2020 required repayment amount is $0. Why?

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1 Replies
Level 15
May 15, 2020 5:12:26 PM

When you see the same amount of your required repayment for the HBP as income, this is because your RRSP has not been designated correctly on the tax return.

 

Only contributions made to your RRSP in the tax year or the First 60 Days of this year can be designated as a repayment, and you must enter the information in TurboTax. 

 

More information can be found in this TurboTax FAQ: How do I enter my Home Buyers’ Plan repayment information in TurboTax?