I wanted to completely pay off my Home Buyer's Plan in 2022.
So I over-contributed to my RRSP during the first 60 days of 2022.
Now I want to assign the excess as a repayment for the Home Buyer's Plan for 2022 but TurboTax considers those contributions as if they were from 2021 and, therefore, it won't let me.
3 different people at TurboTax gave me the same answer: "You did this wrong, you should have declared this in 2021. Now your only option is to re-file your 2021 tax return".
I ended up doing my research and it turns out that it's TurboTax that doesn't support this scenario.
CRA clearly allows this and just looking at the dates shown on Schedule 7 proves it.
It's just that TurboTax has not implemented this use case.
I ended up filing my taxes with anothe software, which does support this scenario.
I just can't believe TurboTax is giving wrong tax advice, making it seem like I was doing something wrong when it's just a matter of how the software works.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
