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Does Box 52(pension adjustments) make a difference in how much money you get back
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Does Box 52(pension adjustments) make a difference in how much money you get back
Pension adjustments reflect the value of benefits you earned under your employer’s Registered Pension Plans or Deferred Profit Sharing Plans.
You are required to report this amount on line 206 of your income tax return. This amount does not affect your income — either as earnings or as a deduction — but it can lower how much you can contribute to your Registered Retirement Savings Plan in the following year.
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Does Box 52(pension adjustments) make a difference in how much money you get back
Pension adjustments reflect the value of benefits you earned under your employer’s Registered Pension Plans or Deferred Profit Sharing Plans.
You are required to report this amount on line 206 of your income tax return. This amount does not affect your income — either as earnings or as a deduction — but it can lower how much you can contribute to your Registered Retirement Savings Plan in the following year.