We do not cover tax filing for Canada on this platform. You would need to seek assistance over TurboTax Canada. To file with Canada, click here https://turbotax.intuit.ca/tax-software/index.jsp
If you are US citizens and residents, you are required to report worldwide income including the Canadian portion on your US tax return. If you pay taxes on the same foreign income to both the Canadian government and the IRS, you may qualify for a foreign tax credit on Form 1116. See foreign tax credit
You would need to include any income generated from your business property as part of your worldwide income. With the same rule applied as mentioned above, if you pay taxes to CRA on the same income, you may be able to claim a tax credit on Form 1116.
To claim a foreign tax credit, here are the steps:
In TurboTax online,
- Open up your TurboTax account and select Pick up where you left off
- At the right upper corner, in the search box, type in "foreign tax credit" and Enter
- Select Jump to foreign tax credit
- Follow prompts
To report a foreign earned income, here are the steps:
- At the right upper corner, in the search box, type in foreign income and Enter
- Select Jump to foreign income
- Follow prompts to enter info
If you are not a US citizen or resident, please write back for further assistance.
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