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New Member
posted Apr 2, 2021 3:51:03 AM

Employer gave an RRSP contribution as a check, reported in box 40 of the T4. I deposited this into an RRSP at my bank. Should I report it as a contribution I made?

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Level 3
Apr 17, 2021 6:33:22 AM

Thank you for choosing TurboTax.

Box 40 on the T4 slip is for "Other taxable allowances and benefits" which means an amount in box 40 added in your Box 14 which is Net Income.  This amount must deduct from your net income. The bank will issue an RRSP Contribution Slip which you need to enter in your RRSP Profile of TurboTax.

 

Visit this site for more information:  https://www.canada.ca/en/revenue-agency/services/tax/businesses