Why isn’t my RRSP deduction appearing on my tax return?

by TurboTax•35• Updated 3 months ago

You should see your RRSP deduction at the TurboTax Registered savings plan summary screen. Here are some of the most common reasons why you might not see a deduction amount:

You haven't entered your deduction limit

You enter your deduction limit at the What’s your deduction limit screen. You’ll find the amount on the CRA Notice of Assessment from the prior tax year. Without your deduction limit, TurboTax can’t calculate your deduction.

You designated the contributions as repayments to another plan

If you designate your RRSP contributions as repayments to a Lifelong Learning Plan or Home Buyers' Plan, they'll be shown on your return as repayments — not as contributions. These repayments aren't deductible, and they don’t affect your RRSP deduction limit.

You've made contributions that exceed your deduction limit

If your RRSP contributions exceed your RRSP deduction limit shown on your prior year CRA Notice of Assessment, TurboTax will deduct only up to the deduction limit. If you contribute more than $2,000 over your deduction limit, you may be subject to a penalty tax and you may have to file a special return to report it. For more information see Excess Contributions.

You don't need your contribution this year

If your RRSP contributions aren't needed this year to reduce your taxable income (and therefore taxes owing), you can save them as unused contributions for use in a future year. You can review these details either on your TurboTax Registered savings plan summary screen or on Schedule 7 of the PDF copy of your return.

They're on your spouse/partner's return

If your spouse contributed to your spousal RRSPs, the deduction will be applied on your spouse's return — not on yours. You can review these details on either the TurboTax Registered savings plan summary screen, or on Schedule 7 of the PDF copy of your spouse/partner's return.