US citizen using the HBP for a new house.

MIKE2000Z28 · Post by **MIKE2000Z28** » Mon May 02, 2011 3:55 pm

Alright this year i bought a house and used $25,000 in RRSP for some of the down payment. So basically i took a distribution. I know i take what the initial RRSP was worth and take what it was worth at distribution time and use that figure. Lets say i put in 22,000 overall since 2006(my first year of RRSP reporting) and now i took out 25,000. So that where do i report that $3000 and how much tax do i have to pay on it?

This will be for next years return 2011, but i want to know ahead of time.

nelsona · Post by **nelsona** » Mon May 02, 2011 4:36 pm

It will be on line 16a and 16b. Its not quite as simple as that, but comwe back next year.