Any unused contribution room will be carried forward to the next years. Similarly, any undeducted contributions will be carried forward too. This allows you to deduct from your contributions what you need to reduce your tax liability or get the maximum refund. The rest of the contributions which has no effect on your taxes can be carried forward.
To know more about RRSP contributions and carry forward, please visit the following TurboTax articles below:
How do I enter RRSP contributions in TurboTax Online?
How do I change the RRSP carryforward amount?
If you require further assistance please contact our phone support team or contact us directly on Facebook or Twitter.
Thank you for choosing TurboTax.
Any unused contribution room will be carried forward to the next years. Similarly, any undeducted contributions will be carried forward too. This allows you to deduct from your contributions what you need to reduce your tax liability or get the maximum refund. The rest of the contributions which has no effect on your taxes can be carried forward.
To know more about RRSP contributions and carry forward, please visit the following TurboTax articles below:
How do I enter RRSP contributions in TurboTax Online?
How do I change the RRSP carryforward amount?
If you require further assistance please contact our phone support team or contact us directly on Facebook or Twitter.
Thank you for choosing TurboTax.