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March 29, 2025
Question

What are my obligations for my 2024 tax return, regarding a HBP withdrawal made in october 2024?

  • March 29, 2025
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    TurboTaxAniqua
    March 30, 2025

    For your 2024 tax return, regarding a Home Buyers' Plan (HBP) withdrawal made in October 2024, you'll need to report the withdrawal on Schedule 7 and designate any RRSP contributions made from January 1, 2024, to March 1, 2025, as repayments.  Your RRSP issuer will issue you a T4RSP showing the HBP withdrawal, which you'll need to report on your 2024 tax return.

     

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