# RRSP contribution calculator **URL:** \ **Category:** Tax Topics\ **Created:** [January 6, 2024, 2:59pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641 "2024-01-06T14:59:58Z")\ **Posts on this page:** 14\ **Page:** 1
**Author:** ![shadim2](https://avatars.discourse-cdn.com/v4/letter/s/dbc845/32.png) [@shadim2](https://www.protaxcommunity.com/u/shadim2)\ **Post date:** [January 6, 2024, 2:59pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/1 "2024-01-06T14:59:59Z")
I am wondering if there is a place in taxcycle that I can use it to put initial income and I can calculate the best RRSP amount to contribute before end of February ---
**Author:** ![obhorst](https://avatars.discourse-cdn.com/v4/letter/o/a88e57/32.png) [@obhorst](https://www.protaxcommunity.com/u/obhorst)\ **Post date:** [January 6, 2024, 3:43pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/2 "2024-01-06T15:43:34Z")
There is always the opportunity to use the tax planner - entering the information you know, estimating the rest and then see the result. ---
**Author:** ![lmanleytax](https://avatars.discourse-cdn.com/v4/letter/l/8e8cbc/32.png) [@lmanleytax](https://www.protaxcommunity.com/u/lmanleytax)\ **Post date:** [January 6, 2024, 4:09pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/3 "2024-01-06T16:09:55Z")
You can also use the carryforward and plan option in Taxcycle if you prepared the prior years return and have the 2023 version currently. ---
**Author:** ![shadim2](https://avatars.discourse-cdn.com/v4/letter/s/dbc845/32.png) [@shadim2](https://www.protaxcommunity.com/u/shadim2)\ **Post date:** [January 6, 2024, 4:24pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/4 "2024-01-06T16:24:09Z")
No it’s the first time ---
**Author:** ![lmanleytax](https://avatars.discourse-cdn.com/v4/letter/l/8e8cbc/32.png) [@lmanleytax](https://www.protaxcommunity.com/u/lmanleytax)\ **Post date:** [January 6, 2024, 5:20pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/5 "2024-01-06T17:20:26Z")
You can still create a file in Taxcycle and mark is as planning. At the very bottom of the ‘info’ screen you can change the **PURPOSE** from filing to planning. Enter the information as usual but once it’s mark planning Taxcycle will ask you if you want to rename the file and an orange bar appears at the bottom of the screen. ![image](https://us1.discourse-cdn.com/flex016/uploads/taxcycle/original/2X/0/06f39ba8192fab9ed26d9f20a8515217629574d4.png) ---
**Author:** ![Nezzer](https://sea2.discourse-cdn.com/flex016/user_avatar/www.protaxcommunity.com/nezzer/32/3845_2.png) [@Nezzer](https://www.protaxcommunity.com/u/Nezzer)\ **Post date:** [January 6, 2024, 5:20pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/6 "2024-01-06T17:20:28Z")
Even if it’s a new client, and you haven’t entered their info, you can open a new T1, hit F4 and go to the T1Planner: ![image](https://us1.discourse-cdn.com/flex016/uploads/taxcycle/original/2X/1/189b30da540fe6e0ab802fc1761a6c093257e66d.png) ---
**Author:** ![sarka](https://sea2.discourse-cdn.com/flex016/user_avatar/www.protaxcommunity.com/sarka/32/2667_2.png) [@sarka](https://www.protaxcommunity.com/u/sarka)\ **Post date:** [January 8, 2024, 7:09pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/7 "2024-01-08T19:09:17Z")
Help topics for all the options mentioned can be found here: > **[Planning Tools](https://www.taxcycle.com/resources/help-topics/t1-personal-tax/planning-tools/)** > > Create a plan for the following tax year in TaxCycle T1/TP1. ---
**Author:** ![shadim2](https://avatars.discourse-cdn.com/v4/letter/s/dbc845/32.png) [@shadim2](https://www.protaxcommunity.com/u/shadim2)\ **Post date:** [January 8, 2024, 7:21pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/8 "2024-01-08T19:21:11Z")
But I need it for 2023, to help a client contribute in RRSP before 1 of March ---
**Author:** ![kevin](https://avatars.discourse-cdn.com/v4/letter/k/2acd7d/32.png) [@kevin](https://www.protaxcommunity.com/u/kevin)\ **Post date:** [January 8, 2024, 7:39pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/9 "2024-01-08T19:39:33Z")
I see about three or four replies above telling you how you can do this RRSP planning using TaxCycle. I normally open up a new 2023 T1 (for a new client) and do the planning in that T1. I’m not sure what else you’re looking for from the program. ---
**Author:** ![shadim2](https://avatars.discourse-cdn.com/v4/letter/s/dbc845/32.png) [@shadim2](https://www.protaxcommunity.com/u/shadim2)\ **Post date:** [January 8, 2024, 7:53pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/10 "2024-01-08T19:53:27Z")
I need it to calculate saving on RRSP contribution that will be made by Feb 28, and what is the best amount? If I start T1 for 2023, it will show planner for 2024 ---
**Author:** ![kevin](https://avatars.discourse-cdn.com/v4/letter/k/2acd7d/32.png) [@kevin](https://www.protaxcommunity.com/u/kevin)\ **Post date:** [January 8, 2024, 8:01pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/11 "2024-01-08T20:01:47Z")
What I do is create a new 2023 tax return; enter the client’s 2023 information and income, deductions, and credits (if it is a new client). Also enter their 2023 RRSP deduction limit. Print the tax summary with no RRSP contribution. Then look at the 2023 tax brackets. That will give you a good idea of how much RRSP contribution will best help the client. You can play around with different RRSP contribution amounts and check the monitor (that bar at the bottom of the tax return screen) to see how the refund/amount payable changes. There is no button that will give you the optimum RRSP deduction. Maximizing the client’s refund does not always generate the best RRSP plan since a larger RRSP deduction may end up saving tax at a low rate. It’s a trial and error process. ---
**Author:** ![shadim2](https://avatars.discourse-cdn.com/v4/letter/s/dbc845/32.png) [@shadim2](https://www.protaxcommunity.com/u/shadim2)\ **Post date:** [January 8, 2024, 8:05pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/12 "2024-01-08T20:05:39Z")
Thanks, I thought about doing the same ---
**Author:** ![sarka](https://sea2.discourse-cdn.com/flex016/user_avatar/www.protaxcommunity.com/sarka/32/2667_2.png) [@sarka](https://www.protaxcommunity.com/u/sarka)\ **Post date:** [January 8, 2024, 8:30pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/13 "2024-01-08T20:30:26Z")
Another option is use scenarios in a new T1 2023 which you can print that shows each option side-by-side. Either way - we do recommend you select Planning as the file purpose in the Filing section on the Info worksheet to keep track of planning versus filing T1s. You can always change the purpose back to filing later if you want to use this file to complete the tax return. > **[Scenario Summary](https://www.taxcycle.com/resources/help-topics/t1-personal-tax/planning-tools/scenario-summary/)** > > Use scenarios to compare different possible tax situations for your clients. ---
**Author:** ![wem](https://avatars.discourse-cdn.com/v4/letter/w/35a633/32.png) [@wem](https://www.protaxcommunity.com/u/wem)\ **Post date:** [January 8, 2024, 8:48pm UTC](https://www.protaxcommunity.com/t/rrsp-contribution-calculator/7641/14 "2024-01-08T20:48:59Z")
Thank you for that tip. I have never used the scenario feature but I will definitely try it out.