asark391
New Member

Get your taxes done using TurboTax

read through and completed reporting RRIF incoe in federal taxes section.

 

However reporting canadian tax paid on retirement for foreign tax credit was very confusing.

Multiple option chains are present and it was not clear as to which path to go down. I would have much preferred to see a initial section which asked how much tax was witheld and then ask questions required to fill out needed forms. Instead in TurboTax the questions about which countries and payments these are linked to was unclear and could not figure out what was meant and as to which options to select and how to fill out. It even looked like there was a duplicate entry of amount of money received in RRIF to be filled in along with tax paid - I was not sure if this would be treated as (yet) another RRIF payment or would be linked to the amount entered when entering the RRIF payment in the previous section.

 

Can you please clarify with an example for distributions received from a single RRIF account over the year as to how to fill in the RRIF information and how to enter the Canadian Taxes withheld for tax credit.

 

I would suggest that TurboTax consolidate this ssction by asking for RRIF distributions received and the Withheld tax in one page (section) and then ask necessary questions and populate all required forms guiding the user during the process.

TIA