I over contributed in my RRSPs and withdrew the amount immediately. Do I adjust my total contributions to the amount actually contributed this year or what my forms say?
I over contributed in my RRSPs and withdrew the amount immediately. Do I adjust my total contributions to the amount actually contributed this year or what my forms say?
When was the contribution made and when did you take it out? Do you have a T4RSP?
I over contributed in my RRSPs and withdrew the amount immediately. Do I adjust my total contributions to the amount actually contributed this year or what my forms say?
The contribution was made Jan 2018, and the $3k overage was taken out Feb 2018. I do not have a T4RSP at this time (just the contribution receipts for the full amount). Thank you for your help
I over contributed in my RRSPs and withdrew the amount immediately. Do I adjust my total contributions to the amount actually contributed this year or what my forms say?
This is tough because the contribution happened in 2018.
You will report the contributions as usual for 2017 but carry forward the $3,000 RRSP that you removed in feb 2018.
Next year you will have the T4RSP as though you took it out and taxes were withheld. In the RRSP screen you have several options to choose from. You will have to do this next year. (Refund of Unused RRSP, PRPP, and SPP Contributions)
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.
Sign In
Canada (English)
EN
