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Blue1231
Level 1

LIF transfer to RRSP

Client did direct transfer under 60(L) of funds from his own LIF to his own RRSP.  Has an RRSP receipt for the RRSP contribution in first 60 days of 2023.  Filed 2022 return showing carry forward of that contribution to 2023.  There is a 2023 T4RIF showing that amount withdrawn from the LIF.  On the T4RIF screen I entered the amount from box 16 again in box 24 in the "Transfer to RRSP" line.  Profile now shows that amount on the "Transfers to RRSP screen" correctly.  However, it does not get posted to the "Eligible income transferred transferred to your RRSP/PRPP" line on the "RRSP/PRPP deduction screen".  Is this an error in Profile?  Do I need to do an override?

2 Comments 2
Blue1231
Level 1

LIF transfer to RRSP

I think I found my own solution.  ProFile indicated the carry forward as "Prior to 2023" on the 2023 return.  I changed that to "first 60 days of 2023 (NOT reported on 2022)".  Now the transfer shows up on the RRSP/PRPP section of the RRSP/PRPP deduction screen.

Mario B
ProFile Team

LIF transfer to RRSP

we have instructions at this link for Transfers under section 60(L)  https://profile.intuit.ca/support/en-ca/help-article/manage-users/t4rif-t4rsp-transfer-profile-t1-tr...