Is the First Home Savings Account (FHSA) “Unused FHSA partication room” section displayed on the T1 Summary and pulled from S15 supposed to be the cumulative amount? I believe it is supposed to be but I also I believe it is not calcutating properly.
Can anyone confirm same or am I confused?
It appears I am/was confused. It appears it is not supposed to be cumulative.
I think it is more confusing this way than if it had been a cumulative total similar to your RRSP deduction limit. I guess that is a beef for the CRA though.
Now you have me confused! I think TFSA participation room is cumulative or am I misunderstanding you?
I presume you meant FHSA? Yes it is cumulative but it appears the form is not designed to give the “Unused FHSA partication room” cumulative total from what I can figure out.