Hi all,
Hoping this is a quick fix.
Long story short I used the Home Buyers Plan a few years ago AND I repaid it in full. The CRA website even shows that I have repaid it down to $0.
However, Turbo tax says I owe the full amount and then has deducted $1700 from my return, as it says I haven't made this year's repayment.
How do I delete the HBP from turbo tax? Or whatever is telling it I still owe?
I did the auto upload T4s and slips from the CRA website to turbotax when I started (if that helps)
Thank you so much for any help
Do you go into the RRSP section and designate an amount as your HBP repayment?
Do you go into the RRSP section and designate an amount as your HBP repayment?
Update: I solved the problem by doing what I suggested below (and going to the section you mentioned). In TurboTax, I went to the page that says "HBP Profile." I then clicked designate an amount for repayment. On the next page I put HBP amount owing and repayment to $0. Problem gone now .... thank you!
Thank you so much for the reply.
I have no HBP repayments to make this year at all.
I paid off the HBP 3 years ago, but the TurboTax program says I still owe the full amount and therefore deducts $1700 from my tax return. This is because it assumes I am not making the payment and owe it.
I notice when the CRA uploads data to TurboTax, it shows me that the info it uploaded says I owe HBP. Logging on to the CRA website, its says I owe $0 for HBP.
I will try to edit the HBP in the Turbotax program. The page that says outstanding amount and my repayment for this year.