If I have a T4A from work for contributions to a retirement savings plan, do I report that number as an RRSP contribution as well, that can be used as a deduction?
If I have a T4A from work for contributions to a retirement savings plan, do I report that number as an RRSP contribution as well, that can be used as a deduction?
If you are entering a T4A slip you do not enter it as an RRSP contribution or deduction. Please follow the below steps for entering information from your T4A:
Instructions for TurboTax Online
If you have a T4A
Select Find from the menu, then enterT4A
Select T4A Pension, Retirement, Annuity from the list of results, and then select Go. The T4A - Summary step appears
Select Enter new T4A. The T4A - Pension, Retirement, Annuity, and Other Income step appears
Fill out the form in TurboTax with the information from your slip
Select Done with T4A. The T4A - Summary step appears
Review the information on-screen and follow the instructions below that match your situation:
If the information is correct, select Done with T4A Slips
If the information isn’t correct, select Edit next to the slip and correct the information. When you return to this step, select Done with T4A Slips
If you have more T4A slips to enter, select Enter new T4A. When you return to this step, select Done with T4A Slips
Instructions for TurboTax CD/Download
If you have a T4A
Select Find from the menu, then enterT4A
Select T4A Pension, retirement, annuity from the list of results, and then select Go. The Entering your federal T-slips step appears
Select T4A - Pension, Retirement, Annuity, and Other Income(including scholarships and bursaries)
Select Continue. The T4A - Pension, Retirement, Annuity, and Other Income step appears
Fill out the form in TurboTax with the information from your slip. If you have more T4A slips to claim, select Enter new T4A and fill out the form, repeating this step for each slip
Select Done with T4A. The T4A - Summary step appears
Review the information on-screen and follow the instructions below that match your situation:
If the information is correct, select Done with T4A Slips
If the information isn’t correct, select Edit next to the slip and correct the information. When you return to this step, select Done with T4A Slips
If you have more T4A slips to enter, select Enter new T4A. When you return to this step, select Done with T4ASlips
Note: Some of the fields on your slip may not be in TurboTax. You only need to enter the slip information that TurboTax asks for.
For a complete guide to the T4A tax slip, visit theTurboTax blog.