Transfer of an amount from the RRIF to the RRSPYour question is as follows: "I had to immobilize a portion of my RPP, transferring it to an RRSP or RRIF. How do I enter the information in the software?"
If your receipt issued by the financial institution indicates that it is a "Transfer under s. 60LV", please follow the procedure below.
Also, be aware that a "CRI in the tax sense is a locked-in RRSP" and that a "LIF is a RRIF".
1. On the "Left-side menu on the Interview tab", select "T4A and pension income".
2. On the screen to your right, click on the plus sign "+" icon on the right the line "T4RIF - Income from registered income fund (RL-2)".
3. On the new page generated, enter the amount from box 16 of your T4RIF slip and write it on the line "Taxable amounts from a RFIF (RL-2 box B)".
4. In addition, enter the same amount again on the line "- portions of Box 16 transferred to an RRSP/PRPP (click the?)".
This amount will be carried over by the program on line 13000 of the federal return as well as on line 20800.
In addition, federal Schedule 7 will indicate on lines 24500 and 24640 the amount transferred
ID: 20200106081126DE.xml
Webpage: KPA385-20200106081126DE.htm