I over contributed to my RRSP deduction limit. In TurboTax it asked if I would like to transfer it to my spouse, I picked yes. How do I transfer my RRSP to spouse?

[TurboTaxKim]

You cannot "transfer" your RRSP to your spouse. 

You'll need to report the entire amount of your RRSP Contribution on your tax return, and TurboTax will automatically carry forward the amount in excess of your contribution limit to the following year. The Canada Revenue Agency allows you to overcontribute to your RRSP's one time in the amount of $2,000 without there being a penalty.  If you overcontributed in the First 60 Days, you still need to report the contribution on this year's tax return, you can claim the overcontribution on your income tax return next year. 

If your overcontribution exceeds the $2,000, (or you have previously overcontributed $2,000 or more), you may be required to pay the 1% tax per month on the excess contributions, or you can choose to withdraw the excess. 

Here's some information from CRA on what happen's if you exceed your contribution limit: https://bit.ly/2HWYMU3

[questionsforever]

If you are contributing in the first 60 days of the year, isn't that include any contribution room from the previous year plus  the current year contribution from this year's earned income? not sure how you specify if you want the first 60 days contribution to go to the current year (next year) or for the previous year that just finished.

[TurboTaxBrenda]

You must report what you contributed in the first 3 months of this year (2023) on last year's return (2022). The over-contribution amount will automatically carry forward to the following year. You will ensure that the over-contribution amount is then claimed on your 2023 tax return. 

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