Sorry if this is basic, but this is the first time I'm doing this and want to make sure it's correct.
I would like to contribute 15k to my RRSP this year and only claim 5k for my 2012 tax return. I'm using TurboTax and it allows me to enter how much I want to claim, leaving 10k in unused RRSP contributions.
I do not want to use the remaining 10k deduction until a future year, maybe not until a few years down the road. Is there a limit to how long I can defer the deduction?
I want to enjoy the tax free growth for now and not use the deduction until much later.
I would like to contribute 15k to my RRSP this year and only claim 5k for my 2012 tax return. I'm using TurboTax and it allows me to enter how much I want to claim, leaving 10k in unused RRSP contributions.
I do not want to use the remaining 10k deduction until a future year, maybe not until a few years down the road. Is there a limit to how long I can defer the deduction?
I want to enjoy the tax free growth for now and not use the deduction until much later.