I'm having an issue with entering my HBP repayment I made this year, in February, for tax year 2023. I've attached screenshots, where I entered the amount, then by the last screen showing a summary it's putting my repayment amount ($1083) in the field of amount that hasn't be repaid. I can't get this to work, appreciate any help
Hi Shannon,
To be able to deduct the HBP amount designated, you need to report your RRSP receipts for the tax year first. The software will take from the RRSP contribution amount and designated it to the HBP.
When reporting your RRSP, make sure you deduct enough to cover your HBP and make sure to enter your RRSP limit.
Hope this helped
Thanks for choosing TurboTax
Heba
Thank you, where do I do that? This is the screen I see for Registered Savings Plan Profile for 2023:
check the first option "made RRSP contributions"
It will guide you on how to report your RRSP receipts for the tax year.
Thank you got that set now, but I have another question, it's asking for my spouse's 2023 return net income but he hasn't completed his, and his is asking for mine lol. This is like a catch-22?!
The Canada Revenue Agency (CRA) suggests to enter an estimate and make an adjustment at a later time when you do have the correct amount. When doing the assessment the CRA is likely to make the adjustment as per the information in your files.
Thank you for choosing TurboTax.