KarenJ2
Expert Alumni

Retirement tax questions

You should enter your Canadian pension distribution as if you received a 1099-R.  

 

After entering your pension income (don't forget to convert first to USD) then enter your foreign tax paid to help offset any double taxation.

 

To report the Canadian tax paid on your pension: 

  1. Enter foreign tax credit in the search box at the top of the page and click the Jump to link 

  2. Click 'Yes" you paid foreign taxes 

  3. Click through the screens regarding foreign interest and dividends 

  4. Click yes that you have reported all your foreign income already in TurboTax 

  5. Click that you want to take a credit 

  6. Answer question about the Simplified Limitation Election 

  7. Choose income type for pension - it will be General category income 

  8. Add Canada 

  9. Enter description - Canadian pension 

  10. Enter Income amount that you previously reported under 1099-R

  11. Enter your taxes you paid on your Canadian pension in the box "Other income" 

 

 

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