how to show transfer of RRSP from deceased spouse to surviving spouse in ProFile

Surviving spouse has a T4RSP slip for $70,000 in box 22.  I'm trying to enter this correctly in her tax return.  This amount is a RRSP transfer from the deceased spouse RRSP balance (FMV),  to her RRSP. 

Could someone please guide me on what forms to use in ProFile for this type of transaction for both the deceased and this surviving spouse? 

Thank you

Answer

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This is a direct transfer, and may or may not be indicated on the T4RSP. If it is not indicated, you should try to get an RRSP contribution slip from the entity (bank, etc) that made the transfer to your RRSP. Sometimes this can be difficult. Whether you get one or not, enter the 70K as follows:

1. On the T4RSP screen, enter the $70,000.00 in box 22 (Commutation Payments transferred to RRSP)

2. On the Transfer screen, this will be indicated on the appropriate line and in the total.

3. On the RRSP screen, enter the RRSP transferred amount as if it was a normal RRSP contribution. Once you have done this, the 70,000.00 will also show up in the RRSP summary section as a transfer and will allow you to accept it no matter what your deduction limit is.

4. As it should not, it does not affect your current year tax situation.

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