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Home Buyer's Plan repayment issue, not showing I've made the repayment

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

 

5 Replies
HebaE
Returning Member

Home Buyer's Plan repayment issue, not showing I've made the repayment

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

Home Buyer's Plan repayment issue, not showing I've made the repayment

Thank you, where do I do that? This is the screen I see for Registered Savings Plan Profile for 2023:

 

 

HebaE
Returning Member

Home Buyer's Plan repayment issue, not showing I've made the repayment

check the first option "made RRSP contributions"

 

It will guide you on how to report your RRSP receipts for the tax year.

 

 

Home Buyer's Plan repayment issue, not showing I've made the repayment

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?!

Home Buyer's Plan repayment issue, not showing I've made the repayment

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.