How to deduct 401K amount when filing Canada tax return
Hello, I am Canadian and working in California. I bought 401K through my employer. Can I deduct this amount against Canadian tax return (like RRSP deduction)? If yes, where should I enter this info. Thx
How to deduct 401K amount when filing Canada tax return
Yes, you can deduct your 401k contributions if you meet the requirements as stated in the following CRA information and form. You would include them as a regular RRSP contribution in the RRSP Profile of TurboTax and complete the RC268 form and submit it along with your receipts only if CRA requests to see them.
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