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Home Buyer Plan Limit is incorrect in the software

As of March 1, 2019 HBP limit should be $35,000.00 instead of $25,000.00. Your software is not recognizing this and wants to tax me. It is saying I should pay when I should be in a refund position. Will you guys be fixing this or should I return the software?

4 Replies
pejthomas
New Member

Home Buyer Plan Limit is incorrect in the software

I am having the same problem. The limit needs to be raised

Home Buyer Plan Limit is incorrect in the software

The limit is still 25$k when it should be at 35$k. This is causing a major taxation error and requires to be fixed

Home Buyer Plan Limit is incorrect in the software

This error has been fixed- Please sign out of your TurboTax program and sign back in to make sure you have all the updates. Then you will go through your return again. Step by step and you should see the number changed. 

Home Buyer Plan Limit is incorrect in the software

I just logged in to my turbo tax online as of March 31, 2020 and this is what it says under home buyer plan

 

What is the Home Buyers' Plan (HBP)?

The Home Buyers' Plan (HBP) is a program that allows you to withdraw funds from your registered retirement savings plans (RRSPs) to buy or build a qualifying home. You can withdraw up to $25,000 in a calendar year.

What is a qualifying home?

Don't confuse the Home Buyers' plan with the Home Buyers' Amount tax credit. The Home Buyer's plan is a loan from your RRSP. The Home Buyer's Amount is a non-refundable tax credit.

 

 

Still not corrected