Search found 2 matches

by lipeter1
Thu Aug 01, 2019 4:53 pm
Forum: Canada / United States Tax & Accounting
Topic: Someone please help me RRSP room calculation regarding to 401 (k) deduction
Replies: 25
Views: 12066

Re: Someone please help me RRSP room calculation regarding to 401 (k) deduction

Picking up from the OP, I just got off the phone with the CRA. They said that the amount reported on line 207 (including your contribution to a 401k plan) is NOT factored into the RRSP Deduction Limit calculation. On the other hand, the employer matching contribution (Box 5123/Line 206) DOES reduce ...
by lipeter1
Thu Aug 01, 2019 4:36 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP Contribution Room Calculations for US Commuter
Replies: 9
Views: 12411

RRSP Contribution Room Calculations for US Commuter

I am a Canadian resident who commutes to the US to work for a US employer. I have contributed to their 401(k) plans. It is a money purchase plan, and my employer also matches 50% of my contributions up to a maximum of 3% of my salary. I just spent a whole lot of time talking with CRA agents, and was...