When paying back HBP, do we need to fill-out the CRA form "5000-S7 Schedule 7 - RRSP" and send it by post, or does TurboTax take care of it?
03553
3 Replies
TurboTaxSusan
Moderator
Jan 16, 2023 11:06:07 AM
When you fill out the RRSP & HBP sections in TurboTax, a Schedule 7 will be included as part of your return.
Jon94
New Member
Apr 29, 2024 11:46:16 PM
I filled out the HBP box 27 but it has taxed the withdrawal. It should be tax free for first time home buyers, what have I done wrong?
TurboTaxSusan
Moderator
Apr 30, 2024 3:39:43 PM
@Jon94 FDo you mean box 27 on your T4RSP? Then please go into the RRSP section and fill out the needed info for your RRSP contribution and your HBP repayment.