RRIF changed to RRSP. How do I enter the transfer?

[TurboTaxLise]

Did you mean your RRSP has been converted to a RRIF because you have reached age 71? Or is this a RRIF that belonged to a spouse and has been converted to you as an RRSP?

[dmcdow]

No I had an RRSP converted to RRIF at age 59 (retirement).  RRIF has now been converted to RRSP (age 65).  I have T4RIF and RRSP Contribution "Transfer under Paragraph 60(L)(V) ITA" -- not sure where these are to be entered properly.

[TurboTaxKim]

To enter your RRIF transfer to an RRSP while in the EasyStep view of TurboTax Download:

1. Enter your T4RIF in the Income section
2. When entering your RRSP Contribution slip, you must make sure you enter the amount of the transfer "twice"
3. You will then see in the Detailed Tax Summary the RRIF amount included in Total Income, and the RRSP Contribution deducted before Net Income

[dmcdow]

Thanks I will try that ….

[TurboTaxLise]

In order to correctly have your RRIF transferred to an RRSP in the online version of the software, you must complete these three steps: 

• Enter your information from the T4RIF you received in the Income section. 

• In the RRSP section, enter the “contribution: from the RRSP Contribution Slip you received.

• Navigate to the  “Transfers to RRSPs” in the RRSP section, and complete the entries there.

Please see screenshots attached for each step.

[dmcdow]

I do not see these screens in my program -- no option to expand box 24 on T4RIF slip, nor RRSP pages --- I have Turbo TTD20 program

[TurboTaxKim]

The above instructions are for entering in TurboTax Online. With the downloaded version you do not have three steps.  Can you let me know if you are preparing the return using the Forms View or EasyStep? I will attach the instructions in a separate answer.

[dmcdow]

I am using Easy Step but could refer to forms if necessary.