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Moderator: Mark T Serbinski CA CPA
3 posts • Page 1 of 1
So just to be clear on this, I include my RRSP contributions in my income in 1040 and taxed on it. Then when I withdraw $$ at retirement, or before if in a jam, I have to include that again on 1040? So I get taxed twice on the whole amount, not just the interest?
No, any RRSP contributions that you cannot deduct that you report as income on your 1040 comes out non-taxable when you take withdrawals.
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