Where can I enter RRSP contributions made in Feb 2023 for the 2023 tax return?

[Sumi]

In UFile -> Interview tab I only see a section for entering RRSP contributions made in the following two time periods, that I can use to deduct my 2023 income:

• Mar - Dec 2023

• Jan - Feb 2024

I made a contribution in Feb 2023 that I'd like to use to deduct my 2023 income, where can I enter this? A quick Google search (posted on WealthSimple) says that I can simply enter this in the "Mar - Dec 2023" section and CRA will manually confirm with my RRSP contribution slips. Does that work? Technically a contribution made in Feb 2023 should be usable for both the 2022 and 2023 return right?

 

 

 

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[Geo123]

 

Hello Sumi

If you have an unused contribution to your RRSP from the first 60 days of 2023, *the reporting method will depend on the actual situation.*

**If the amount was reported in 2022 and not used in 2022**, therefore carried over to 2023, then it is an unused contribution and the UFile program would have carried it over to 2023.
Complete this section only if an amount of Unused contributions is shown on your latest federal 2022 Notice of assessment or Notice of reassessment.

***IF you have a RRSP from the first 60 days of 2023, and it was never reported before***, then you have to make an adjustment to your 2022 tax return or if you successfully NetFiled your 2022 tax return you can ReFILE your 2022 return after you have made the entry into your 2022 return.

OTHERWISE

Generally, you have to pay a tax of 1% per month on excess contributions that exceed your RRSP/PRPP deduction limit by more than $2,000 unless you: withdrew the excess amounts. contributed to a qualifying group plan

If you over-contribute $2,000 or less to your RRSP, you cannot deduct those excess contributions from your taxable income, but you are not charged a penalty on those contributions either. Excess contributions over the $2,000 mark, however, are charged a penalty.

 

For further clarification please consult a tax advisor or the CRA. Please contact the CRA at 1-800-959-8281 
CRA https://www.canada.ca/en/revenue-agency/corporate/contact-information.html