Quote:
Originally Posted by albertGQ
This is actually due to Leap year. Your Jan.1, Feb, 1, and Mar.1 2007 RSP contributions have been claimed on your taxes last year. So for the remaining $450 you got. Which is fine. But due to Feb.29th being the deadline, instead of Mar.1 this year, you only have two contributions in the first 60 days of 2008 as opposed to the traditional three. So she only made 11 monthly contributions.
Next tax year, she'll have 10 contributions for the remainder of 2008 plus three for 2009 (since next year's deadline will be Mar.1 2009), so she'll be able to claim $650.
Make sense?
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Makes complete sense. Thank you so much for the clarification. We had even pulled out old taxes to try and figure this out, and the bank was beyond useless helping us.