Grant Posted April 26, 2023 Report Share Posted April 26, 2023 My mother died in 2021 and her RRIFS were transferred to my father in 2022. For even numbers as an example, his investment company transferred all $90k from her to him but cashed out $6K to his account. For this they issued 2 receipts 1) a T4RIF for $90K with an amount of $84K in box 24 as an Excess amount. 2) an RRSP receipt for that $84K with a Label of RRIF. The investment company claims this the correct way to do this as my parents live in Quebec so rules are different and the $6K cash is the difference between those 2 numbers. I auto-filled Ufile from CRA and it downloaded both the T4RIF and the RRSP receipt but Ufile seems to be ignoring the RRSP receipt as he ends up owing a whack of income tax and it doesn't change whether I remove the RRSP receipt or not. They said the $84k needs to be entered on Schedule 7 Line 20800 but how do I enter in that line number manually in Ufile? Quote Link to comment Share on other sites More sharing options...
Geo123 Posted April 26, 2023 Report Share Posted April 26, 2023 Hello Grant, What is the receipt name you received? IS this for If a receipt issued by a financial institution indicates that it is a "Transfer under s. 60LV Quote Link to comment Share on other sites More sharing options...
Grant Posted April 26, 2023 Author Report Share Posted April 26, 2023 12 minutes ago, Geo123 said: Hello Grant, What is the receipt name you received? IS this for If a receipt issued by a financial institution indicates that it is a "Transfer under s. 60LV Thanks for taking a look/replying. It's T4RIF government tax receipt (the 90K plus 84k excess) and an RRSP government tax receipt for the 84k (note that he is much older than 71) both issued by the investment company. Both came down when I used the CRA auto-fill option. Quote Link to comment Share on other sites More sharing options...
Smey Posted April 30, 2023 Report Share Posted April 30, 2023 Yes, I would like to know the answer to this question for other reasons.Apparently I need to insert some RRSP information on Schedule 7, but how do I find Schedule 7 on UFile?? Quote Link to comment Share on other sites More sharing options...
Geo123 Posted April 30, 2023 Report Share Posted April 30, 2023 Hello Smey, Schedule 7 is on the Tax Return page however you do not directly "insert into the schedule. It is is done from the T4RIF screen as per your T4RIF slip Example : portion of Box 16 transferred to a RRSP/PRPP - portion of Box 16 transferred to a RRIF 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.