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JimmyJ

T4RSP Early Spousal Withdrawal Clarification Please

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Hello; thank-you in advance for your help.

 

Here's my clarification request: the description for Line 129 states:

 

Your spouse or common-law partner may have to report some or all of the RRSP income shown in boxes 20, 22, and 26 of your T4RSP slips if he or she contributed to any of your RRSPs in 2010, 2011, or 2012. In that case, your T4RSP slips should have "Yes" ticked in box 24 and your spouse's or common-law partner's social insurance number shown in box 36.

 

I contributed to my wife's RRSP in the 2010 calendar year before the deadline to claim on 2009 taxes; I claimed the deduction on my 2009 taxes.  We had to make an early withdrawal last summer (2012).

 

The bolded "any" is what makes me worry; does that mean I still have to claim the early withdrawal as my income this year, or can I claim it under my wife's?  I think I know the answer, but I'm hoping someone will tell me otherwise.

 

If I have to claim it, it means I screwed up big time and owe a lot this year... :(

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Looks like you're stuck to report it as your income. This 3 year rule was put in place to avoid people using RRSPs for income splitting. That may not have been your intent but you're still up against those attribution rules.

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