DZunti Posted March 26, 2023 Report Share Posted March 26, 2023 CRA allows RRSP contributions made in a given year to not have the deduction claimed that year. When doing by hand, this would be on Schedule 7 where the contributions are to be recorded in the tax year they were made (Lines 2 & 3) but a different amount claimed (even zero) for that tax year (Line 18) and allowing unused contributions to be carried forward. https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-s7/5000-s7-22e.pdf Nowhere in the UFile software can I find a way to deduct less for this tax year than the total contributions made, it only seems to force all contributions made to be used as a deduction immediately. If there is not a way to do this, then that is a major fail in the software. I have tried searching to see if there is a MaxBack setting for this but have found nothing. Please advise if there is a way to do this. Quote Link to comment Share on other sites More sharing options...
Geo123 Posted March 27, 2023 Report Share Posted March 27, 2023 Hello DZunti, Please select RRSP or PRPP/VRSP deduction to use in 2022 : RRSP or PRPP/VRSP deduction to use (leave blank to use all your contributions as a deduction)* : [ $amount ] *To save RRSP contributions for future years, enter the portion of RRSP contributions that you wish to use as a deduction for the current year. The difference between the deduction claimed here and your contributions represents your unused RRSP contributions, which you will be able to claim in future years. Quote Link to comment Share on other sites More sharing options...
DZunti Posted March 28, 2023 Author Report Share Posted March 28, 2023 Geo123, Thanks, it was staring me right in the face and I missed it. DZ Quote Link to comment Share on other sites More sharing options...
Geosharo1 Posted April 15 Report Share Posted April 15 Hello, Let's say I earn 100k annually and I contributer 18k ( 18% of salary) to my RRSP. If I wanted 18k ( use my entire RRSP contribution as deduction for 2023) using Ufile, do I just leave the following field blank ? RSP or PRPP/VRSP deduction to use in 2022 : RRSP or PRPP/VRSP deduction to use (leave blank to use all your contributions as a deduction)* : [blank ] Any help is appreciated! thanks! Quote Link to comment Share on other sites More sharing options...
Geo123 Posted April 15 Report Share Posted April 15 Hello Geosharo1, This section is for RRSP carried forward / unused from prior year(s) : RSP or PRPP/VRSP deduction to use in 2022 : RRSP or PRPP/VRSP deduction to use (leave blank to use all your contributions as a deduction)* : [blank ] >>For 2023 contributions : Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.