Turbotax: Carry forward Unused RRSP

 

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  • Q: How does one use Unused RRSP from previous years? How does one carry forward unused RRSP? Where does one see this in the summary? A: See Video Resolution
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  • Relevant Material: "You just have to enter your unused amount from 2023 and your contributions from 2024, and TurboTax will automatically deduct the amounts from your tax return on Line 20800 (See it on the detailed summary). You only have have to do something else if you *don't* want TurboTax to use the full amount that you can deduct.." (How to: Claim unused RRSP contributions from prior year?????????)
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  • Relevant Material: "Saving and investing in a Registered Retirement Savings Plan (RRSP) can be a smart move for Canadians who want to ensure they have enough money set aside for retirement.

    Unlike Tax-Free Savings Accounts (TFSAs), which have set contribution limits, RRSP contribution rules are slightly more complicated. So, we’ve put together a handy guide with everything you need to know about the RRSP contribution room. Before you dive in, be sure you understand how RRSPs work..." (Understanding RRSP Contribution Limit: A Beginner's Guide | 2024 TurboTax® Canada Tips)

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  • Relevant Material: "Saving and investing in a Registered Retirement Savings Plan (RRSP) can be a smart move for Canadians who want to ensure they have enough money set aside for retirement.

    Unlike Tax-Free Savings Accounts (TFSAs), which have set contribution limits, RRSP contribution rules are slightly more complicated. So, we’ve put together a handy guide with everything you need to know about the RRSP contribution room. Before you dive in, be sure you understand how RRSPs work..." (Understanding RRSP Contribution Limit: A Beginner's Guide | 2024 TurboTax® Canada Tips)

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