RRSP unused contributionsFor the current tax year, if you want to contribute to your RRSP the amount of unused contributions that is displayed on the line "Unused RRSP/PPRP contribution" of the CRA's notice of assessment for the previous tax year, please follow the steps below:
1- On the "Left side menu of the Interview tab", select the item "RRSP contributions, limits".2 - On the page appearing on the right, enter your "RRSP/PRPP deduction limit for 2021 (2020 assessment)".
3 - Subsequently, choose the line "Unused RRSP/PRPP contributions (2020 assessment)" and enter the amount that is listed on your notice of assessment of the previous year.
4- This section applies to unused contributions, which are indicated on line B of your 2020 federal Notice of Assessment or Notice of Reassessment.
5- You have two choices, the first "Do you have unused contributions from the first 60 days of 2021?" NOTE: This contribution must be shown on your last Notice of Assessment for 2020, otherwise the CRA may not allow your deduction.
6- The second choice "Unused contributions from prior years (excluding the first 60 days of 2021)".
Please note that the amount of your unused contributions must be equal to the amount on line B of your last Notice of Assessment for 2020
The program will carry the amount over to line 1 of the federal Schedule 7, and apply the unused portion in the current tax year, up to the maximum amount that is found in the field "RRSP/PRPP deduction limit for 2021 (per 2020 assessment, line A)".
For more information on RRSPs, please consult the following CRA link:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/registered-retirement-savings-plan-rrsp.htmlID: 20210727125803NA.xml
Webpage: KPA385-20210727125803NA.htm