You can only get an RRSP deduction from the amount you yourself have contributed as per the RRSP information slip you have received.
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I work for the City of Toronto and have a pension plan with Omers where both the City and I as an employee make contributions. During the turbo tax RRSP contribution section, should I be deducting my contribution for the pension plan as RRSP contribution or does Turbo-tax pick this deduction directly from my T4?
If the amount of your part of the contribution is already on the T4, it should be entered as a contribution on your return by the software. You will need to enter it as a deduction if you wish or need to use it this year. Otherwise you can choose to use it another year when it might be more beneficial for you.
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Thanks for your response. However, I am still unclear. Let me put this in layman's (my) terms. For my total taxable income to be reduced by my contribution in the Omer's plan, do I have to manually enter what I contributed through the year or does turbo-tax pick this from my T4 automatically? I see that my yeary contribution is captured in my T4.
Whatever you entered on your T4 TurboTax will enter it accordingly. There are no other entries to make regarding your pension plan as it is on your T4 Slip.
Thank you for choosing TurboTax.
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