Example of how much income to report on each spouse's return
Example
In May 2022, Marc started contributing to his spouse Stephanie's RRSPs. He contributed the following amounts to her RRSPs:
| Year | Amount |
|---|---|
| 2022 | $2,000 |
| 2023 | $2,000 |
| 2024 | $1,000 |
| Total | $5,000 |
In 2024, Stéphanie withdrew $4,000 from her spousal or common‑law partner RRSPs. Before 2024, she had not withdrawn any amounts from her spousal or common‑law partner RRSPs.
Stéphanie determines that Marc has to include $4,000 in his income on line 12900 of his 2024 income tax and benefit return, since the amount Marc has to include as income is the lesser of:
- amounts he contributed to all spousal or common‑law partner RRSPs in 2022, 2023, and 2024 ($5,000)
- amount his spouse withdrew from her spousal or common‑law partner RRSPs in 2024 ($4,000)
Stéphanie does not include any amount in her income for this withdrawal.
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