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HBP repayment not being designated as repayment and so included as RRSP income on line 12900


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Hi, 

 

I've correctly completed the HBP interview page indicating that I paid the required amount of my HBP repayment last year. In the return on Table H of the RRSP schedule, this amount is not included as designated repayment on line 3. Then line 2 minus line 3 equals the amount I repaid which is now included as RRSP income on line 12900. I don't think it should be, as this is my designated amount. Does anyone know how to correct this? It appears the info in the interview form is not correctly transposed to the return. 

 

Thanks

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  • 3 weeks later...

this is what I found in the forum and it helped. 

*** quote ***

This error is still happening in 2021. I tried using $1700 from unused RRSP contributions previously reported and available to deduct listed in the RRSP section of the Interview but when I assign this as my HBP repayment amount it just gets added to my income and my designated repayment stays at 0. I tried playing around with some of the interview settings and it only works if I take out the $1700 from "Prior years..." and move it up one line in the interview to "RRSP contributions from the first 60 says of 2021" but obviously that is incorrect. I wish Ufile would get their act together and fix an error that has been mentioned here for several years.

*** unquote ***

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You have to designate your HBP payment in two places, once in the "HBP - Home Buyer's Plan page and then in the "RRSP Contribution limit" page.  In the "HBP - Home Buyer's Plan" page, you put in how much you have designated your RRSP contribution as HBP repayment, and then in the "RRSP Contribution limit" page, in "First 60 days" or "March - December 2021" whichever place that corresponds to the time that you made your RRSP contribution that included your HBP repayment, you have to state the total amount that you contributed to RRSP to show that this is the amount that you contributed to the RRSP.  

Once you do that, then UFile will calculate it correctly. 

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