Note: Before beginning, fill out your personal information and build your tax profile in TurboTax to ensure optimal results. The Find button won't appear until these steps are complete.
- Select Find (or the magnifying glass icon) from the menu
- Enter RRSP Contributions in the Find window
- Select RRSP Contributions to be Carried Forward and then select Go
- On the RRSP/PRPP and SPP Carry Forward step, TurboTax displays the number of contributions exceeding your limit. This amount is automatically carried forward
- To adjust how much of this tax year’s contributions get carried forward:
- Next to the RRSP/PRPP contributions you are deducting, enter the amount you’d like to deduct this year, and then select Continue. The remainder will get carried forward.
- For example, TurboTax shows that $3,000 is available to deduct in the current tax year. If you’d like to carry forward $2,000, enter the remainder ($3,000 - $2,000 = $1,000) of $1,000 in the space provided next to RRSP/PRPP contributions you are deducting. This means that $1,000 will be deducted in the current year and the remaining $2,000 will be carried forward.
- Select Find, enter RRSP summary, and select Go.
- RRSPs/PRPPs are carried forward to a future year.
See below:
Please Check out the Turbotax Article: Remaining RRSP Contribution Room
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