TurboTax HelpTurboTax HelpIntuit

Where do I enter eligible retiring allowance (severance) that's been transferred to an RRSP?

by TurboTax Updated 1 week ago

To enter your eligible retiring allowance transferred to an RRSP, you'll need to enter your T4 slip then enter the transfer to your RRSP.

  1. Select Find from the TurboTax menu.
  2. Enter T4 Employment Income, select it from the list, then select Go.
  3. Enter the information exactly as it appears on your T-slip. Your eligible retiring allowance is shown in box 66.
  1. For TurboTax Online:
    1. Select Find from the TurboTax menu.
    2. Enter RRSP Profile, select it from the list, then select Go.
  2. For TurboTax Download:
    1. From the menu, select Registered Savings Plans > Registered Savings Plans Profile.
    2. At Your RRSP Profile, check the box for Made RRSP contributions during 202X or the first 60 days of 202Y, then select Continue.
  3. At What's your RRSP/PRPP deduction limit?, enter your deduction limit, then select Continue.
  4. At RRSP Contribution, enter the contribution amount from your eligible retirement allowance that you transferred to your RRSP, as shown on the receipt from your financial institution.
    1. If using TurboTax Download, enter the amount of the designated transfer at Is this RRSP contribution a designated transfer of eligible income amount?
  5. Select Done With RRSPs.

More like this