Where do I record the purchase of labour sponsored funds within an RSP?
031438
3 Replies
TurboTax-Terry
New Member
Oct 30, 2019 8:36:11 PM
Use the T5006 under Income > T-slips to report the Labour Sponsored contribution and then also enter the regular contribution under the RRSP menu.
jhadid
New Member
Oct 30, 2019 8:36:13 PM
Does your answer apply to a quebec releve10 slip as well? I'm guessing it does not, since by paying it through automatic payroll debits I already received the tax deduction directly at source on the payroll?
TurboTax-Terry
New Member
Oct 30, 2019 8:36:14 PM
You will need to report the Labour Sponsored contribution on the QC return as the employer did reduce tax withholding but you need to verify why that was done by filing the appropriate information with your tax return.