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Schedule 7

Schedule 7 records RRSP contributions and related information.

To open Schedule 7, double-click on the form named "S7 - RRSP contributions" in the Form Manager.

This form can be broken down into several sections:

• Part A - Contributions

  This area reports all the contributions to RRSP plans for the tax year, including unused contributions from previous years.

  Note: If contributions on the RRSP Deduction Worksheet are reported for dates outside the range indicated on lines 2 and 3, they will not forward here to Schedule 7 and will not be included in the RRSP Deduction on line 208 of the T1 General.

  Note: If the amount on line 1 for Unused Contributions does not match what CRA has on file, you will get an error when you try to electronically file the return.

• Part B - Repayments under the HBP and LLP

  This area reports amounts designated towards repayment of the Home Buyers' Plan and Lifelong Learning Plan, reducing the amount deductible on line 208 of the T1 General.

  Note: As per CRA guidelines, unused RRSP contributions from previous years are ineligible for designation towards repayment of the HBP and LLP.

• Part C - RRSP Deduction

  This area calculates the actual deduction forwarded to line 208 of the T1 General.

• Part D - RRSP Unused Contributions Available to Carry Forward

  This area calculates your unused RRSP contributions available to carry forward to next year.

• Part E - 2011 Withdrawals under the HBP and LLP

  This area reports withdrawals made in 2012 towards the Home Buyers' Plan and Lifelong Learning Plans.

  The information in this area flows from the T4RSP form, with the exception of designating your spouse as the LLP student, which flows from the RRSP Deduction Worksheet.

Refer to CRA for more information.

Reporting Information

Note: No information is reported directly in this Schedule. Most of the information on this form is calculated from the RRSP Deduction Worksheet.