My financial planner made a transfer from my RRIF to my RRSP pursuant to section 60L (V).On what line on my tax return would I report the RRSP contribution.

The transfer is greater than my RRSP deduction limit.Also as the transfers were from one registered acc to another so there should be no net tax effect.

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1 Best answer

Level 15

Oct 30, 2019 9:57:57 PM

In order to correctly have your RRIF transferred to an RRSP in the online version of the software, you must complete these three steps:

Enter your information from the T4RIF you received in the Income section.

In the RRSP section, enter the “contribution: from the RRSP Contribution Slip you received.

Navigate to the “Transfers to RRSPs” in the RRSP section, and complete the entries there.

It will be included in income and then deducted, and your RRSP deduction limit will not be effected.

Please see screenshots attached for each step.

Level 15

Oct 30, 2019 9:57:57 PM

In order to correctly have your RRIF transferred to an RRSP in the online version of the software, you must complete these three steps:

Enter your information from the T4RIF you received in the Income section.

In the RRSP section, enter the “contribution: from the RRSP Contribution Slip you received.

Navigate to the “Transfers to RRSPs” in the RRSP section, and complete the entries there.

It will be included in income and then deducted, and your RRSP deduction limit will not be effected.

Please see screenshots attached for each step.

Returning Member

Mar 8, 2020 6:17:47 AM

Could you send me the screen shots I am having the same problem 2019 Standard On line version

New Member

Mar 24, 2020 11:31:22 AM

I would also like the screen shots if they are still available.

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My financial planner made a transfer from my RRIF to my RRSP pursuant to section 60L (V).On what line on my tax return would I report the RRSP contribution.