QROPS tax return again
Apr 16th 2014 | 3:48 pm
#1
Thread Starter
BE Forum Addict
Joined: Apr 2005
Posts: 4,109
From: Saskatoon, Saskatchewan
QROPS tax return again
So is the procedure still to add the pension transfer amount from the UK to line 130, then deduct it on line 240?
I finally managed to get TurboTax to do that, but it added it to line 245 as well; from the comment on the form 'Include your transfers and contributions that you are designating as a repayment under the HBP or the LLP,' that looks correct, but I wanted to be sure they're not going to tell me I'm now $150,000 over my RRSP contribution limit
.
I finally managed to get TurboTax to do that, but it added it to line 245 as well; from the comment on the form 'Include your transfers and contributions that you are designating as a repayment under the HBP or the LLP,' that looks correct, but I wanted to be sure they're not going to tell me I'm now $150,000 over my RRSP contribution limit
.
Apr 16th 2014 | 10:26 pm
#2
No really, it doesn't
Joined: Sep 2007
Posts: 1,817
From: Rural Nova Scotia
Re: QROPS tax return again
When completed it should show as an income inclusion on line 130 and a deduction on line 208.
Apr 21st 2014 | 6:24 am
#3
Thread Starter
BE Forum Addict
Joined: Apr 2005
Posts: 4,109
From: Saskatoon, Saskatchewan
Re: QROPS tax return again
Yeah, it's on both lines, it's just the part about showing up as an RRSP contribution too that I was wondering about.
Guess I'll mail it in with a cover letter and cross my fingers.
Guess I'll mail it in with a cover letter and cross my fingers
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Apr 21st 2014 | 8:07 am
#4
Scottish Canuck
Joined: Aug 2006
Posts: 3,703
From: Auld Scotia > Nova Scotia > Calgary
Re: QROPS tax return again
Why don't you pay $40 and get someone to do all your taxes for you. Life's too short to sweat all that stuff for a few $$ 
Apr 21st 2014 | 8:13 am
#5
Thread Starter
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From: Saskatoon, Saskatchewan
May 26th 2014 | 1:24 pm
#6
Thread Starter
BE Forum Addict
Joined: Apr 2005
Posts: 4,109
From: Saskatoon, Saskatchewan
Re: QROPS tax return again
BTW, I got my tax refund recently, so I presume it was the right thing to do .
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