Deductions & credits

It is not very straight forwards  in the online Premier version I had been using for many years.  This is because when you enter the RRIF distribution, TurboTax does not ask you for foreign tax paid, like other mutual fund incomes which have foreign income components.  I do not recall how I entered the foreign tax paid for my RRIF at this time.  I kind of recall it was buried in Form 1116, but I cannot be sure though.  Every year I had the some issue and had to take time to figure it out again.  You may have to be careful not entering your RRIF distribution again in Form 1116, otherwise, you will end up paying more taxes.

 

It would really be very good if TurboTax could make the corrections to treat Canadian RRIF and other Canadian retirements incomes the same as mutual fund incomes with foreign income components and foreign tax paid.