Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Find CRA error Netfile information >> HERE!
compita
New Member

My RRSP limit is $10,850. On 2024 my income was 70k, and contributed 10k, I'm also carrying over from the previous year $1,850. Should I increase my deduction limit?

 
1 Reply

My RRSP limit is $10,850. On 2024 my income was 70k, and contributed 10k, I'm also carrying over from the previous year $1,850. Should I increase my deduction limit?

The RRSP deduction limit is the maximum amount of money you can contribute to your RRSP and claim as a tax deduction on your income tax return. More specifically, it's the lesser of 18% of your income from the previous year or the annual limit set by the CRA (up to a maximum of $31,560 for tax year 2024). You can check if that applies to you What Is an RRSP Deduction Limit?

 

Thank you for choosing TurboTax.

Unlock tailored help options in your account.