401K Contribution

[akumar]

Hello,

I am a dual citizen who lives in Canada and works in the USA. I contribute and max out my 401K in the US, my employer matches most of the 401K.

For 2018 taxes, I am considering not deducting my 401K contribution through my allowable RRSP room as my limit is small and the employer contribution will serve as a large pension adjustment. I will pay more Cdn taxes, but get a much bigger RRSP limit for 2019.

I'm a bit confused how to best balance the 401K/RRSP contribution options going forward, should I make separate contributions? Any advice.

[nelsona]

You mjust report your 401K contribution, as it must reduce your RRSP contribution.