How do I claim unused RRSP Contributions from last year? I'm worried that I am somehow double claiming my contributions.

[m-w-]

On my notice of assessment I have (as an example) $10,000 in RRSP deduction limit for 2014. On the same assessment it says I have $2000 in unused contributions. Lets say for 2014 I contributed $5000 to my RRSP, so I would also like to claim the unused $2000 also. Where do I enter it into TurboTax? Do I just create two separate RRSP slips (one listed 2014 - $5000 , and one for Carry Forward - $2000)? I'm worried that if I do that, it will somehow track twice (once last year and also this year). I thought there would be a simple screen that said "use last years carry forward" but I am not seeing that. Any help would be appreciated.

[TonyC11 · Accepted solution]

In your example you will have a total available amount of 2000 + 5000 = 7000 that can be deducted for 2014. This is all good because your 2014 deduction limit is 10000.

Now, it is optional whether you choose to deduct all, some or none of the 7000.
On both the paper form and in Turbotax RRSP tab you will see you are asked to designate an actual amount, which could to be the full 7000 available, leaving no unused for 2015, which is perfectly ok.

Don't worry, there is no penalty and no problem with leaving amounts undeducted, and you can only deduct them once.