In May 2004, Joshua started contributing to his wife Keri's RRSPs. He contributed the following amounts to her RRSPs:
Year | Amount |
2004 | $2,000 |
2005 | $2,000 |
2006 | $1,000 |
Total | $5,000 |
In 2006, Keri withdrew $4,000 from her spousal RRSP. Before 2006, she had not withdrawn any amounts from her spousal RRSP.
Joshua has to include $4,000 in his income on line 129 of his 2006 return, since the amount Keri withdrew is the lesser of:
Keri does not include any amount in her income for this withdrawal.
Form T2205, Amounts from a Spousal or Common-Law Partner RRSP or RRIF to Include in Income for 2006.