Question
Transfer of an RRSP after death of spouse
Good afternoon,
I would greatly appreciate anyone's assistance as the client is questioning my calculations.
The spouse passed away and there was a transfer of RRSP's for $404,123.21 and a T4RSP slip issued for box 18 (refund of premiums) for only $169,897.06 and another for Box 22 withdrawal of RRSP's for $40,000 less $12,000 tax deducted. When I complete the RRSP transfer for the amount of the refund $169,897.06, it leaves a significant balance of taxes owing...to avoid taxes owing on this transfers should the T4RSP box 18 not match the RRSP contribution slip transfer of $404,123.21.
