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Retirement tax questions
You may claim a foreign tax paid for the taxes you paid to Canada. Here is how to claim.
To enter foreign taxes paid (for the Foreign Tax Credit), please follow these steps:
- Click on Federal > Deductions & Credits
- Scroll down to the Estimates and Other Taxes Paid section and click on the box next to Foreign Taxes. [Screenshot #1]
- On the Foreign Tax Credit screen, click on the Yes box.
- On the Before We Begin screen, click on the Yes box.
- On the Do You Want the Deduction or the Credit screen, click on the Take a Credit box.
- On the Choose the Income Type screen, mark the radio button next to General category income (since this is retirement income rather than investment income).
- Continue through the screens.
- On the Country Summary screen, if no countries are listed click Add a Country.
- On the Foreign Taxes Paid - [country] screen, enter the amount of foreign taxes you paid.
- You will be brought back to the Country Summary. Click Done if you have no other countries to enter.
- Continue through the rest of the [many] screens.
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‎January 22, 2024
6:29 AM