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New Member
posted Oct 30, 2019 9:43:09 AM

I am out of RRSP contrib. room. I opened a spousal RRSP and contributed $2,500 for my common law partner. Was this a mistake? Have I now over contributed? Next steps?

I did this thinking it would lower my tax owing (my income is higher).  But Turbo Tax didn't seem to recognize the additional spousal contribution.  is this because I need to have room to make that contribution?

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New Member
Oct 30, 2019 9:43:11 AM

Yes, you do need contribution room to make a contribution to either your RRSP or your spouses RRSP.  If you have no contribution room, TurboTax will carry forward the contribution to the next year when you will be able to claim it.  You may want to consider this when making RRSP contributions for the 2018 tax year so you do not over contribute.

1 Replies
New Member
Oct 30, 2019 9:43:11 AM

Yes, you do need contribution room to make a contribution to either your RRSP or your spouses RRSP.  If you have no contribution room, TurboTax will carry forward the contribution to the next year when you will be able to claim it.  You may want to consider this when making RRSP contributions for the 2018 tax year so you do not over contribute.