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rob18
New Member

Minimum Home Buyers' Plan repayment amount is more than my eligible RRSP contributions

As I understand it, the CRA will claim my minimum repayment amount as income if I don't have any eligible RRSP contributions to use for repayment.
First, TurboTax won't actually let me enter a repayment amount more than the eligible RRSP contributions, which probably makes sense.
How do I get past this?
1 Best answer

Accepted Solutions

Minimum Home Buyers' Plan repayment amount is more than my eligible RRSP contributions

If you did not make any contributions to your RRSP in 2016, you enter zero. You can not designate a repayment from money you did not contribute.

Once you enter zero, Turbo tax will add it to your income. 

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1 Reply

Minimum Home Buyers' Plan repayment amount is more than my eligible RRSP contributions

If you did not make any contributions to your RRSP in 2016, you enter zero. You can not designate a repayment from money you did not contribute.

Once you enter zero, Turbo tax will add it to your income.