Working on 2018 taxes for my son. He contributed $1131.01 to an RSP not an RRSP. Can't seem to find a way to input that into the turbotax software. What am I missing?
Working on 2018 taxes for my son. He contributed $1131.01 to an RSP not an RRSP. Can't seem to find a way to input that into the turbotax software. What am I missing?
Do you mean RPP, Regustered Pension Plan? This amount should be on his T4 and that is where it should be entered. (RSP is just a way of saying RRSP).
Working on 2018 taxes for my son. He contributed $1131.01 to an RSP not an RRSP. Can't seem to find a way to input that into the turbotax software. What am I missing?
Actually his slip calls it "Retirement Savings Plan."
Working on 2018 taxes for my son. He contributed $1131.01 to an RSP not an RRSP. Can't seem to find a way to input that into the turbotax software. What am I missing?
If
it’s a non-registered savings plan, then it’s treated like a capital investment.
You report the income, and any sales of the assets. There is no tax credit for
contributing to a non-registered savings plan, and the income, proceeds of
sales and withdrawals are taxable.
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