T4RIF - Statement of Income from a RRIF

Box 16, Taxable amounts has been split into two input cells. The amount entered on the Annuity – if 65 or older or due to death of spouse line qualifies for the eligible pension income amount in the calculation of non-refundable tax credits, while the amount entered on the Annuity – other line does not.

Taxprep carries the amount from box 16 to box 161 when the taxpayer is 65 or older or is the spouse or common-law partner of a deceased taxpayer. Otherwise, the amount will be carried to box 162.

You must enter the transfer to an RRSP or a RRIF amount in the appropriate box. In addition, complete the RRSP worksheet to enter the amount that is actually being transferred in order for the program to automatically complete the Form RRSP/PRPP/RPP TRANS, Designation of Amounts Transferred to an RRSP/PRPP and/or an RPP.

Box 22 is divided into five cells and two categories: Income eligible or Non eligible for the pension income amount.

See also

T1032 - Joint Election to Split Pension Income