I am currently doing my taxes and have come upon an error saying I have over contributed
My RRSP deduction limit is $3708 (from A of my 2010 notice of assessment)
I contributed a total of $3698 ($3102+$596)
Undeducted contributions (per 2010 assessment, line B) = $734
What I don't understand is the $734. I don't ever recall claiming an undeducted contribution.
Is it this $734 that is putting me over my limit? Technically speaking couldn't I just not put down the $734 and carry it forward?
Or could I put down just $10 for undeducted credits (which would put me at my limit of $3708) and then carry over the remaining $724?
Will they know I am carrying over $724 if I do the above? How many years forward can I carry this undeducted amount?
I looked back and this $734 started to appear as of my 2009 assessment (I suspect due to my company pension plan)
Upon further investigation it appears I am allowed an over contribution of $2000 so maybe I should just claim it and be more careful in the future.