At my request, my investment company unlocked 50% of my RLIF to an RRSP; they have since provided the RRSP contribution receipt (which indicates that it is "pursuant to section 60L(V)" and the T4RIF which includes both the transfer amount and a smaller amount that was withdrawn in the same year.
Since this was the first year for the RLIF, there is no minimum payment required, so T4RIF boxes 16 (taxable amount) and 24 (excess amount) contain the same number, ie the total of the transfer plus the withdrawal.
How do I correctly record the transfer as well as the withdrawal in TurboTax (2024 Canada, standard, desktop). TIA.
Inevitable
Returning Member
Inevitable
Returning Member
joewhite021
New Member
kdube27
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ashleymacdonald28
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