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New Member
posted Feb 25, 2021 5:51:16 AM

How do I enter an HBP repayment to my income rather than against a RRSP? I am part of a pension plan so I don't make outside RRSP contributions? Thanks.

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1 Replies
Intuit Alumni
Feb 25, 2021 6:46:10 AM

To answer your question and guide you, here is a link and excerpt from our TurboTax article included below.

 

Repayment of Funds  

If you do not make the full annual repayment to your RRSP, or if you pay nothing at all, you have to include the unpaid portion of the required payment as RRSP income on Line 12900 – RRSP Income of your income tax return. The amount you include on Line 12900 is the minimum repayment amount you have to repay as shown on your HPB statement of account, less any portion you paid. Your HBP balance will be reduced accordingly.

 

If needed, we have included a Canada Revenue Agency link below.

Repaying none of the annual amount required to be repaid for the year  

 

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