Unused RRSP contribution available for 2016

[mandiebraxton]

I just saw that my online return has been assessed and it says my Unused RRSP contribution available for 2016 is $12,000, and my 2016 RRSP Dedcution limit is $4,900. My question is:
Is the $12,000 the amount I can contribute this year?

[TurboTaxJeffrey · Accepted solution]

According to the information you have entered for your 2015 return, you already have purchased $12,000 in RRSP contributions that you were not able to claim as a deduction on your 2015 tax return.  This could mean you have contributed way above your allowable limit, and are subject to penalties for over contributing...or perhaps you have either not entered your contributions correctly for 2015, or perhaps have not entered your available contribution room according to what is on your 2014 Notice of Assessment.  If you are unaware what your contribution limit is for 2015, and do not have access to your 2014 Notice of Assessment, you can log in to the CRA website and My Account and check the information, or you can call 1-800-959-8281 for the CRA.  When the call is answered, press the * key on your phone...you might be on hold for a bit, but you will be directed to a live agent, who can help you.  You will need your SIN, your Date of Birth, your address, and information from your 2014 tax return.

[mandiebraxton]

You are so right! I just realized I errorneously indicated $5500 for 2015 contribution when it should in fact be $0. I have amended this and sent for reassessment.

[mandiebraxton]

This community is awesome! I have changed my return and made the correction. It has already been reassessed and it did not affect my refund. I am one happy bunny right now...