pk
Level 15
Level 15

Deductions & credits

@mofalaki ,  you report earned interest  from foreign source just as you would for domestic  interest.  I generally  follow --> under personal income tab,  select  " I will choose what I work on " and then  after satisfying the W-2  related prompts/ entries,  from the drop down list of types of  incomes, select  interest  income. Thereafter it  will ask if you have  "Investment income  say  "yes", then choose  "I will enter myself", then  will present you with  "tablets" for  1099-INT, 1099-DIV etc. Choose  1099-INT.  This will then allow you to enter interest  earnings   with a whole bunch of boxes --- enter only the name  " Who did you receive  interest from "  and fill in the appropriate boxes.   It will allow  multiple interest earnings, one  source at a time   ( clicking  the   "add investment source ") .

 

Then when  you go to the  "deductions and Credits " tab,  again  choose " I will choose what I work on ", then  enter all your normal  deduction and credit claims.  Lastly   under  "other estimated taxes etc. " group choose Foreign  Taxes Paid.  This is where you enter any  foreign taxes paid  to  the Foreign Taxing Authority ( Canada in your  particular case ).   Choose Credit and  follow through.

 

Does this help ?  Or did I mis-read your issue ?