The designated repayment amounts for the Home Buyers' Plan cannot exceed your RRSP contributions for 2016. My wife did not have RRSPs but has a HBP $1333 to repay (error)

I suspect that in the RRSP section you've designated an amount to pay back for the Home Buyer's Plan. This designation amount is only to specify how much of the RRSP contributions to use. Since your wife didn't make an RRSP contribution this field should be blank.

Since there are no RRSP contributions, the $1,333 HBP will then be added (and taxed) as income.

I believe this is a product defect because it was not added to my income at all and it did not increase my Taxable amount.

 

How do I log a defect on this issue?

Angelo 

Did you need to enter a Home Buyers' Plan repayment?

 

Here are the steps to verify on each return to make sure they were only entered on the tax return indicating the person who applied for the HBP. If using our TurboTax Online or Easy Steps in our Desktop software, please go to the Find Icon (magnifying glass) to enter Home Buyers' Plan, select it then Go. This will bring you to the screen seen in the image below. (The images below say 2022 from the previous year, your return will say 2023.) See the entries to be filled on the next Home Buyers' Plan as seen in the next image below. Then you will follow the steps in the last image to view your payment on the RRSP Summary screen. Always make sure to scroll down to the bottom of the screen and click on Done or Continue to save the changes made.

 

 

 

 

 

 

 

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