Turbo Tax has denied my RRSP contributions because I am over 71...but

[crcbus]

Turbo Tax has denied my RRSP contributions because I am over 71...but the minimum RIF limits were changed and we were allowed to recontribute to our plan, the excess withdrawn.  We did so and have receipts to declare.  But the software will not allow.

[TurboTaxMonica · Accepted solution]

The following website is information regarding the changes to minimum withdrawal for RRIF: http://www.cra-arc.gc.ca/gncy/bdgt/2015/qa02-eng.html According to CRA, if you are over 71, taxpayers should not be able to make re-contributions to their RRSPs (see question 11). Taxpayers were expected to recontribute back into their RRIF.

In the software, at box 24 of the T4RIF, it asks if any part of the amount in box 24 was transferred to a RRSP or a RRIF. The amount you indicate that was transferred will give you a corresponding deduction on line 232. (This would be the amount of your RRSP contribution).