Juge

Your RRSP/PRPP deduction limit statement

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I'm a bit confused what to enter in the boxes on this page and whether I should answer yes or no in the drop list in this section.  When I enter what I think are the correct values, U-File results show I am over my $2000 excess limit and I'd be due an approx $40k refund.  As much as I'd love that to be true, I know it's not.  Can anyone help me with this?

Thank you

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Hi Juge & Antoine7,

I have the same issue as you. I contribute only $2000 and my contribution room from previous is $20000.

It kept telling us we are over the limit.

I don't get what they want from me. How do I calculate the unused contribution from first 60 days of 2017?

It's not even stated from on my NOA.

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Hello,

In your 2016 Notice of Assessment, does it indicate that you have unused contributions for 2016?

 

On mine it didn't indicate anything so I didn't answer at all and UFile didn't seem to complain.

 

 

On 4/6/2018 at 4:49 PM, Juge said:

I'm a bit confused what to enter in the boxes on this page and whether I should answer yes or no in the drop list in this section.  When I enter what I think are the correct values, U-File results show I am over my $2000 excess limit and I'd be due an approx $40k refund.  As much as I'd love that to be true, I know it's not.  Can anyone help me with this?

Thank you

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Hi,

Do you have unused contributions from the first 60 days of 2017 ? 

If the amount shown on your latest federal 2016 Notice of Assessment or Notice of Reassessment includes unused RRSP/PRPP contributions you made during the first 60 days of 2017, answer Yes to this question and provide the breakdown of the amount by entering the contributions that relate to the first 60 days of 2017 and those that relate to prior years in the appropriate lines. 

Why identify contributions that relate to the first 60 days of 2017?
If you are in any of the following situations, it would be important to identify the contributions made during the first 60 days of 2017 so that UFile can correctly calculate your income tax return: 

You transferred a retiring allowance to an RRSP/PRPP during the first 60 days of 2017, you entered it as RRSP/PRPP contributions on Schedule 7 of your 2016 tax return, and carried it forward to 2017 as unused contributions; or 
You want to designate the unused contributions from the first 60 days of 2017 as a HBP or LLP repayment. 
If none of these situations applies to you, simply enter the entire amount as unused contributions from prior years, without distinguishing them from those that relate to the first 60 days of 2017. 

NOTES: 

If you used CRA Auto-fill my return, the entire amount appears as unused contributions from prior years, since the information provided by the CRA does not allow the software to do the breakdown. If you are in one of the situations described above, you must manually proceed with the breakdown of the amount. 
If you used UFile to file your 2016 tax return, the amount of your unused RRSP/PRPP contributions including its breakdown has been carried forward in the appropriate fields. Please review the amount with the one shown on your latest federal 2016 Notice of assessment or Notice of reassessment and make the appropriate changes, if applicable. 

Your unused contributions are not shown on your latest federal Notice of assessment?
If you have unused RRSP/PRPP contributions made during the first 60 days of 2017 that are not shown on your federal 2016 Notice of assessment or Notice of reassessment, do not enter them in this section because the CRA may reject your return when you submit it using NetFile. According to the CRA's instructions, you should enter them on Schedule 7 of the previous tax year. If you did not, you must request an adjustment of your tax return for the previous year. 
 

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I appreciate you're effort to answer that question Antoine. I'm in the same boat as another respondent in a later entry to this one in that I get the warning message of an overage exceeding $2000, and yet my 2016 Notice of Assessment isn't the least ambiguous in citing my contribution limit for this year. I noted on opening UFile for the first time this year -- before inputting anything -- that the warning was already in place. So it has to be a program error. I reviewed everything on hand and went on to fill in my return with the contribution I made, which was exactly equal to the limit stated on the 2016 NOA. Still, the warning persists unchanged. Odd that UFile hasn't explicitly addressed this already when there's so little time left for people to seek clarification.

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On one hand, I'm comforted to know I'm not the only person experiencing this same scenario.  I was certain I was doing something terribly wrong.  I was also afraid I'd be cheating myself out of a larger refund or even worse, shortchanging the taxes I was obligated to pay and getting assessed for a sizable payment down the road.  In the end, apparently like you Pikaia, I went with my gut and did what seemed correct.         I had a math teacher way back when I was in high school (about 45 years ago) who taught us a very valuable lesson.  He said, "you may not always know what the right answer is, but you've got to recognize when you have the wrong answer".   With that in mind, if my entries are off, they're going to be off only slightly, which would potentially only cause a minor difference and a potentially (hopefully) affordable assessment, if any.    If I do receive an assessment, I will bring it to U-File's attention, asking them where I went wrong.

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Hi again Juge. FWIW I repeated an approach used by another commenter. I went to that field the had a mysteriously large 'Unclaimed Contributions from Previous Years', and zeroed it. That caused the whole text string to disappear in the next iteration, and the warning vanished. However, that did give rise to a further mystery in that I started getting the exact opposite to the former Warnings: I started getting Tips that I was claiming more of my RRSP contribution against 2017 earnings than was necessary for tax savings. So I started iterating downwards by subbing successively smaller claims in the field until I had my claim down from ~$9K, to merely $1, and it didn't move the Review outcome one buck. Then I had my wife, with whom I co-file and optimized return, try zeroing her RRSP claim amount. I thought that if she did that any taxable income she had should affect the co-filed review. It didn't. Not even by $1.

So, I don't know what this means, but I'm glad the overcontribution warning has gone away. And rather than leave anything to chance, both my wife and I are claiming our entire RRSP contributions for 2017. That's the best way I can think of to be confident that I'm staying in the fairway. Good luck to us all!

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