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maasiif
New Member

I have a spousal RRSP and my wife does not work. We withdraw 25k as HBP, and on my wife's NOA she has to repay $1,666. I contributed $7,009. How do I enter this?

I have a spousal RRSP and my wife does not work. We withdrew $25k as HBP in 2014 and on my wife's 2015 NOA she has to repay $1,666. My contribution limit for 2016 is 7,009 and I contributed $7,009.  How do enter the HBP repayment? Do I entered on my return or on my spouses? 

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I have a spousal RRSP and my wife does not work. We withdraw 25k as HBP, and on my wife's NOA she has to repay $1,666. I contributed $7,009. How do I enter this?

In order for your wife to be able to show repayment for the Home Buyer's Plan, she is required to be the purchaser of the RRSPs, as well as the annuitant.  Unfortunately if you are the one who purchased the RRSPs, they can not be used to repay your wife's Home Buyer's Plan.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/hbp-rap/rpymnts/menu-eng.html#rpng_wthdrw

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2 Replies

I have a spousal RRSP and my wife does not work. We withdraw 25k as HBP, and on my wife's NOA she has to repay $1,666. I contributed $7,009. How do I enter this?

Thank you for your question. Under the RRSP section, you will want to ensure that your repayment information is under your wife's name. If she did not make any RRSP contributions of her own, the TurboTax program will claim the required repayment amount as RRSP income.

I have a spousal RRSP and my wife does not work. We withdraw 25k as HBP, and on my wife's NOA she has to repay $1,666. I contributed $7,009. How do I enter this?

In order for your wife to be able to show repayment for the Home Buyer's Plan, she is required to be the purchaser of the RRSPs, as well as the annuitant.  Unfortunately if you are the one who purchased the RRSPs, they can not be used to repay your wife's Home Buyer's Plan.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/hbp-rap/rpymnts/menu-eng.html#rpng_wthdrw