Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 6, 2024 2:18:25 PM

I rolled over my RRSP to a RRIF in Jan 2024. I am 65 years old. If I withdraw fund from the RRIF in 2024 are they considered a pension income that can be split?

0 1 134
1 Replies
Moderator
Feb 7, 2024 8:15:39 AM

As per the CRA, amounts such as old age security benefits, Canada Pension Plan benefits, Quebec Pension Plan benefits, death benefits, retiring allowances, excess amounts from a RRIF transferred to an RRSP, another RRIF, or an annuity, amounts shown in boxes 18, 20, 26, 28, and 34 of your T4RSP slips, and amounts distributed from a retirement compensation arrangement shown on your T4A-RCA slips do not qualify for the pension income amount.

 

Otherwise, yes, it will be considered pension income, which can be split. 

 

Thank you for choosing TurboTax.