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Business & farm
@BMerv In the deductions and credits section, you will find the foreign taxes.
To report the foreign tax paid on your pension for foreign tax credit:
- Enter foreign tax credit in the search box at the top of the page and click the Jump to link
- Select Yes you paid foreign taxes
- Continue through the screens regarding foreign interest and dividends
- Select yes that you have reported all your foreign income already in TurboTax
- Select that you want to take a credit
- Answer question about the Simplified Limitation Election
- Choose income type for pension - it will be General category income
- Add Canada
- Enter description -XXX pension
- Enter Pension Income amount that you previously reported in another section of TurboTax
- Enter your taxes you paid on your foreign pension in the box "Other income"
- Continue through the foreign tax credit screens until done.
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March 28, 2023
2:33 PM