another 8891 question

andied · Post by **andied** » Sun Mar 08, 2009 12:50 pm

My daughter opened an RRSP last year and I filed an 8891 for her, but now I see that I inadvertently omitted the plan number on the 8891 - all the other4 info was correct.

Should I amend the 2007 8891, or just include the plan number for 2008?

nelsona · Post by **nelsona** » Sun Mar 08, 2009 3:07 pm

I would simply fix this year's. BTw, is she electing to defer income, yet? If she has low income, she could hold off and build up her non-taxable amount in future.

andied · Post by **andied** » Sun Mar 08, 2009 3:37 pm

Great suggestion RE delaying the deferral of income. Unfortunately I did check box 6c last year so I guess that option is eliminated. With all the forms for US/Can for myself and two daughters, I sometimes have brain cramps. Your helpful advice in this forum is greatly appreciated.

nelsona · Post by **nelsona** » Sun Mar 08, 2009 3:55 pm

Just as an aside, although you report your daughters as dependents, you do not pay their income tax.

What are you then reporting an 8891 'for them'.If they are taxable, they should report not you.

Also, just because it might be of interst to others, how are they able to contribute tor RRSP?

andied · Post by **andied** » Sun Mar 08, 2009 4:02 pm

My daughters are young adults and do file their own tax returns; I try to help them with the forms. Sorry for any confusion.