I transferred $ from 1 RRSP co. to another and received a T4A lump sum slip and a receipt for redeposit. Why does the program says the transfer is to be taxed?

posted

1 Best answer

Accepted Solutions

I transferred $ from 1 RRSP co. to another and received a T4A lump sum slip and a receipt for redeposit. Why does the program says the transfer is to be taxed?

Along with entering the income, you'll also enter an RRSP contribution to offset the transfer.

https://turbotax.community.intuit.ca/replies/2648068

View solution in original post

1 Reply

I transferred $ from 1 RRSP co. to another and received a T4A lump sum slip and a receipt for redeposit. Why does the program says the transfer is to be taxed?

Along with entering the income, you'll also enter an RRSP contribution to offset the transfer.

https://turbotax.community.intuit.ca/replies/2648068