If you reported RRSP contributions but your RRSP deduction is $0, there are a few things you should check:
- are your contributions being carried forward? (more information below)
- have you entered your RRSP deduction limit? (if not, we assume it’s $0)
- have you designated repayments to your HBP or LLP? (you may have used all your contributions)
- have you entered your birthday correctly? (if you appear to be over 71, you can’t deduct your contributions)
Are your contributions being carried-forward?
If you entered your contributions before you entered your income, or if you don’t have much taxable income, the optimizer is probably carrying your contributions forward.
First click Review & Optimize to rerun the optimizer. Then expand the Credits & Deductions table in the Summary section. If the amount in the table is $0, it means you don’t get a tax benefit from deducting them this year. You can see the carry forward in the Unused Amounts Available to Carry Forward table.
If you would rather deduct your contributions this year, enter the amount you want to claim and lock it in by clicking the lock icon on the right.