endless Posted March 8, 2021 Report Share Posted March 8, 2021 Hi All I have a question about the contribution amount I should enter for RRSP. Let say i contributed a total of $5000 in RRSP Then for HBP I am supposed to repay back $900 into my RRSP yearly. So in this case, do I still enter $5000 under RRSP contribution section or do I enter the amount of $4100 instead? Also there is a section under HBP that says: " For information only. HBP repayable balance (the amount required to contribute to your rrsp and designate as a repayment.) DO NOT enter anything." However, when I auto downloaded from CRA it automatically entered $ 900 for me. Is this correct or should I remove the $900 and leave it as blank? Any help is really appreciated Thank you Link to comment Share on other sites More sharing options...
TheTaxSmith Posted March 8, 2021 Report Share Posted March 8, 2021 Hi endless. You should enter the complete 5k. The software will claim $900 as an HBP repayment and an RRSP deduction of $4,100 will show up as a deduction. You need to enter the HBP information into the respective data area of course. Link to comment Share on other sites More sharing options...
endless Posted March 9, 2021 Author Report Share Posted March 9, 2021 Ok makes sense now Thank you! Link to comment Share on other sites More sharing options...
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