We opened an RRSP this year and had to withdraw some money from it. Is the contribution amount the current balance? Or what we initially contributed?

For example, if we initially put $80,000 into an RRSP in January but withdrew $20,000 in February and have $60,000 left? Do we indicate we contributed $80,000 or $60,000?

415

Moderator

Mar 6, 2025 10:54:04 AM

You should have a receipt for your $80,000 contribution, and a T4RSP slip for your withdrawal. You would need to enter them both into TurboTax.

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We opened an RRSP this year and had to withdraw some money from it. Is the contribution amount the current balance? Or what we initially contributed?