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Schedule 7 Line 24600 (eligible retiring allowance transfer – T4 Box 66) is being incorrectly limited by RRSP deduction room.

Schedule 7 Line 24640 (eligible retiring allowance transfer – T4 Box 66) is being incorrectly limited by RRSP deduction room.
This transfer should not be constrained by RRSP contribution limit per CRA rules.
Example: $5,000 Box 66 transfer with only $1,200 RRSP room — software caps deduction incorrectly and when you override 24640, it does not carry the total $6,200.  It only carries through the $1,200.

 

I had to override 2 cells in Schedule 7.  Line 24640 and 20800

 

3 Replies

Schedule 7 Line 24600 (eligible retiring allowance transfer – T4 Box 66) is being incorrectly limited by RRSP deduction room.

You need to enter the RRSP contribution receipt, and put the transferred amount in the Designated Transfer box.

 

 

Schedule 7 Line 24600 (eligible retiring allowance transfer – T4 Box 66) is being incorrectly limited by RRSP deduction room.

Thanks very much Susan.  When I place the 6000 into that designated transfer box, the full amount (ie 6000) does not carry to Schedule 7.  It gets limited to my RRSP contribution limit.  The designated transfer rules are intended not to be constrained by the RRSP limit.  Any suggestions?

Schedule 7 Line 24600 (eligible retiring allowance transfer – T4 Box 66) is being incorrectly limited by RRSP deduction room.

Please contact our phone support team as they will be able to assist you further.

 

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