How do I enter a spousal RRSP and its contributions?
Where to find it: ACCOUNTS and INVESTMENTS
Enter the RRSP under the person who owns it, not under the spouse contributing to it. In AUTOMATIC SAVINGS and WITHDRAWALS, select that RRSP as the destination and the contributing spouse as Contributor. The projection can then distinguish the account owner from the person making the contribution.
For example, if you contribute to your spouse’s RRSP, the account owner is Spouse and the contributor on your saving entry is you. Do not create a joint RRSP.
On the RRSP account form, enter the year of the most recent spousal contribution if it was in the current year or either of the two preceding years. Leave it blank when no such recent contribution applies. TIME MACHINE uses this information to restrict withdrawals during its modelled attribution period.
Enter each person’s available RRSP room in the pre-run information. Review both the contribution and withdrawal reports after running, particularly when testing early withdrawals from a spousal plan.