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March 17, 2024
Question

my revenue is from an RRSP withdrawal. Does this need to be declared on a T4RSP?

  • March 17, 2024
  • 1 reply
  • 0 views

For 2023 filing I am finding the same issue but my revenue is from an RRSP withdrawal. Does this need to be declared on a T4RSP? The fields and their significance do not really transpose.

    1 reply

    TurboTaxSusan
    March 18, 2024

    Yes, generally RRSP income would go on a T4RSP slip. What are the codes/boxes on your NR4?

    LinefeedAuthor
    March 18, 2024

    Box 14 is code 43

    Box 15 is CAD

    Box 16 is Gross Income

    Box 17 is Non-Resident Tax Withheld

     

    March 18, 2024

    The NR4 Statement of Amounts Paid or Credited to Non-Residents of Canada slip cannot be entered directly into TurboTax. 

    For each gross income amount:

    1. Compare the income code shown in box 14 or box 16, 17 with the list of codes on the back of your NR4 slip. This code tells you what type of income the amount represents.
    2. Open the in-product help and click the Search tab.
    3. In the search field, enter the description you have found on the back of your NR4 slip and click List Topics.
    4. In the list of topics found for your search term, choose the topic that most closely describes your income type. Follow the instructions on where to enter the amount in TurboTax.

     

    For more information and to clarify which box to use, please contact the Canada Revenue Agency (CRA) at 1-800-959-8281.

    Thank you for choosing TurboTax.