I need to repay my HBP withdrawl, I always just bought RRSP's in my name. This year I bought the RRSP in my wifes name (Spousal rrsp). TurboTax seems to say that I can't use them for repayment???
You can't do that. You borrowed HBP out your own RRSP, not your spouse's.
You need to make a contribution to your own RRSP in order to repay HBP, otherwise CRA will assume you have withdrawn the amount in question. It then gets added to your income and is taxed.
You can't do that. You borrowed HBP out your own RRSP, not your spouse's.
You need to make a contribution to your own RRSP in order to repay HBP, otherwise CRA will assume you have withdrawn the amount in question. It then gets added to your income and is taxed.
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