Hello, I have a question regarding RRSP deduction limits.
I maxed out my 2020 RRSP contribution room by contributing my maximum RRSP contribution room in 2020 ($31,130 contribution of $31,130 room).
In the first 60 days of 2021, I made an additional contribution of $9,000 (with the intent of deducting this amount from my 2021 income). The $9,000 is less than 18% of my earned income in 2021. I believe I should have the 2021 RRSP contribution room since it begins to accumulate in January 2021?
Now I have a "Warning" on my tax return that my RRSP contribution exceeds my deduction limit.
Under "RRSP deduction to use in 2020", I entered my max 2020 deduction limit ($31,130). Have I entered this correctly? Do I just ignore the warning? Have I unknowingly over-contributed to my RRSP for 2020 or 2021?
Thanks in advance.