How do I correct the 2014 RRSP deduction limit? The limit has been wrong for years but I don't know how to change it.

[gloriab]

How do I correct the 2014 RRSP deduction limit? The limit has been wrong for years but I don't know how to change it.

[Delphision · Accepted solution]

Also, if you click on the RRSP tab at the top and then RRSP profile, the next page that opens allows you to enter the RRSP limit from your Notice of Assessment.  This will allow you to correct your carry forward if it is incorrect.

[jhk515]

There is no RRSP tab on top????

[Delphision]

Have you got the installed version?  If so click on forms and type in RRSP.  Look for RRSP worksheet.  Input the deduction limit from the NOA.

[TonyC11]

You will need to communicate in writing to CRA, since it is only they that determine your amount A, RRSP deduction limit. CRA determines this from your annual tax returns of earned income, pension plan contributions, RRSP contributions and other adjustments.

Simply put, your deduction limit is 18% of earned income (up to an annual maximum) less your previous contributions lees your pension adjustments.

[jhk515]

CRAs amount is fine - it's the amount in TurboTax that is wrong

[TonyC11]

Then go to your RRSP entry page and enter your Amount A from your 2013 Notice of Assessment.

[tadric]

Turbo Tax is filling in a number even when I change the limit amount to zero.