Think I botched my 2010 tax return

[403Gemini]

Well I went to h&r block today to do my taxes , normally I do the home software but I was pretty lazy this year . Anyway after I did all the paperwork and got my cheque I went home to file everything and realized i havent received my Jan /10 - feb/10 rsp forms from my bank... So now I assume it's too late to include it on my 2010 return , but is it possible to include it on my 2011 one next year ? Does turbo tax or any software have a line item for missing something like that ?
Thanks guys!

[max_boost]

Claim it next year.

[Chandler_Racing]

Originally posted by max_boost
Claim it next year.

Cash now is better than cash later.

Always better to refile / ammend the return.

[Kloubek]

^^^ Indeed.

However, you *can* just add it to next year, so I wouldn't be too concerned.

[403Gemini]

I'm totally fine with waiting till next year.

Thanks guys, was thinking that I'd get fucked if i got auditted or something.

[Dave P]

Has anyone got there Jan /10 - feb/10 rsp forms ?

Ive talked to a bunch of people, and nobody has yet.

[88CRX]

I just got my Feb one yesterday.

[Kloubek]

Not yet. Still waiting on it so I can do my taxes.

Normally, I only get a couple hundred back. But this year I have laser surgery as a medical expense, so it should be a nice return. The first in years.

[403Gemini]

Originally posted by Dave P
Has anyone got there Jan /10 - feb/10 rsp forms ?

Ive talked to a bunch of people, and nobody has yet.

They seem to be pretty late this year, thats probably why I forgot about it... I dunno just remember last year had mine within the first week of march.

[Xtrema]

Originally posted by 403Gemini
I'm totally fine with waiting till next year.

Thanks guys, was thinking that I'd get fucked if i got auditted or something.

Audit is random. As least that's what a CRA agent told me.

I had a few mistake in the past like unclaimed income. Still have not been audited. Just had to pay tax + penalty.

[WWJAI]

You'll want to file a T1 adjustment request by using form T1-ADJ on the CRA website. There won't be a spot on your 2011 tax return next year to make the claim for the RSP contribution you made. Just fill out the form stating you want to make a change to line 245 of your return for the additional contributions that haven't been reported yet. Even if you don't want to use the contributions this year to make a deduction on line 208 of your return, you can just carry it forward to a future year. An adjustment request will have to be filed regardless of how long you wait if you ever want to report that contribution...very simple to do yourself too.

Audits are not random. Regular joes who just work a regular job and make normal claims everyone else does (ex.rsp contributions) will never be audited. Reviews are random but the process is much different from an actual audit.

[403Gemini]

Originally posted by WWJAI
You'll want to file a T1 adjustment request by using form T1-ADJ on the CRA website. There won't be a spot on your 2011 tax return next year to make the claim for the RSP contribution you made. Just fill out the form stating you want to make a change to line 245 of your return for the additional contributions that haven't been reported yet. Even if you don't want to use the contributions this year to make a deduction on line 208 of your return, you can just carry it forward to a future year. An adjustment request will have to be filed regardless of how long you wait if you ever want to report that contribution...very simple to do yourself too.

Audits are not random. Regular joes who just work a regular job and make normal claims everyone else does (ex.rsp contributions) will never be audited. Reviews are random but the process is much different from an actual audit.

So just the form here?

http://www.cra-arc.gc.ca/E/pbg/tf/t1-adj/README.html

Do i fill it out and send it in now or next year when I send in that return?

[tch7]

Originally posted by 403Gemini


So just the form here?

http://www.cra-arc.gc.ca/E/pbg/tf/t1-adj/README.html

Do i fill it out and send it in now or next year when I send in that return?

You'd send it now, though you could wait.

IMO, the better way to do it is to get a CRA account (http://www.cra-arc.gc.ca/myaccount/). Takes a few days for them to send you a PIN, but then you can log in and electronically change any of your past returns. Beats manually searching for the right paper forms and making sure you change all of the relevant values.

[WWJAI]

Originally posted by tch7

You'd send it now, though you could wait.

IMO, the better way to do it is to get a CRA account (http://www.cra-arc.gc.ca/myaccount/). Takes a few days for them to send you a PIN, but then you can log in and electronically change any of your past returns. Beats manually searching for the right paper forms and making sure you change all of the relevant values.

Yes I would agree using My Account on the CRA website would be better method. Electonically submitted adjustment requests are usually processed quicker too

[SilverRex]

I dont get it, why do you have to make the adjustment now, since the contribution is done in 2011, cant this be consider for next year's 2011 tax return RRSP contribution?

[codetrap]

Originally posted by Dave P
Has anyone got there Jan /10 - feb/10 rsp forms ?

Ive talked to a bunch of people, and nobody has yet.

Yes, but I didn't bother waiting to file since I know exactly how much I contributed.