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Anonymous
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I have a T4RIF that was transferred to a RRSP with receipt, The T4RIF was entered thou auto CMA, How do I deducted this receipt from showing as income and just a transfer

 
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I have a T4RIF that was transferred to a RRSP with receipt, The T4RIF was entered thou auto CMA, How do I deducted this receipt from showing as income and just a transfer

To claim an RRSP transfer from a private pension plan or existing RRSP or RRIF: 

  • enter the income amount in the slip you received it from (T4, T4A, T4RSP, or T4RIF)
  • enter the transferred amount as an RRSP contribution.

TurboTax will then recognize this as a transfer will allow the RRSP contribution. If an amount from a RRIF is transferred to an RRSP, the entire amount is reported as income but only the excess amount is deductible. The excess amount is the total amount from the RRIF less the required minimum yearly RRIF payout amount. 

 

 

 

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