rrsp transferred on death of spouse

Forum|Forum|4 years ago
March 7, 2022
1 reply
8 views

wife dies and bank issues t4rsp slip box 18 to spouse. then issues rrsp receipt for same amount. should have been direct transfer. client has no room and i cannot find where to enter the rrsp receipt amount as it should not affect room. can anyone help how or where to enter the deduction??

ProFile (Canada)

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J

janisbossenberry

Level 7

You enter the T4RSP using box 18. Click "yes" in the box above to show it was due to death of a spouse. Then go to the form "RRSPTransfer". Enter the RRSP refund of premiums (which is what you have). Also enter the contribution on the normal RRSP screen. You should end up with income going in, and an RRSP deduction coming out. The transfer shows on line 24640 on Schedule 7, and does not require RRSP room.

H

hbpAuthor

Level 2

thanks for your prompt reply but i cannot get the amount to enter on line 24640 on schedule 7. i did everything you said but still cannot get the deduction??

J

janisbossenberry

Level 7

Have you entered it in all 3 places? The T4RSP, the RRSPtransfer, and the RRSP contribution screen? If it is still not working, maybe your taxpayer is over 71 and accordingly does not qualify for an RRSP contribution? If that is the case, the income should have been reported on a T4RIF instead. On the T4RIF, you enter the income amount (usually box 16), answer the "received due to death of spouse?" question, and then in box 24 say that is was transferred to a RRIF. I have seen in the past where the plan holder mistakenly issues the T4RRSP and the RRSP contribution slip in error.

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