NR4 from Canada

[AmyC]

The NR4 represents many types of income. You want to enter the income in the same spot as the U.S. equivalent - pension, dividends, etc.

All foreign tax paid is entered in the same spot. To report the foreign tax paid on your pension for foreign tax credit:

1. Enter foreign tax credit in the search box at the top of the page and click the Jump to link
2. Select Yes you paid foreign taxes
3. Continue through the screens regarding foreign interest and dividends
4. Select yes that you have reported all your foreign income already in TurboTax
5. Deduction or Credit? Most people choose the credit since so few itemize deductions. You can try it both ways and determine what is best for you. Select an option.
6. Answer question about the Simplified Limitation Election
7. Choose income type 
8. Add the name of  your county, Canada
9. Enter description -
10. Enter Income amount that you previously reported in another section of TurboTax 
11. Enter your taxes you paid on your foreign pension in the box "Other income"
12. Continue through the foreign tax credit screens until done.

@dgelineau If this does not satisfy your needs, please reply back with more information. 

[calums_mom]

@dgelineau I wish I could say yes but I can't. I am in the process of starting my taxes over again with a local CPA. As you can see from the thread non of the TT "experts" knew the answer since they were all different. One would mean I owed nothing, one meant I owed thousands and one way meant I would get back over $20,000. Insane that not one of them knew the answer.

[PGH62]

Hi JohnB5677 - I have a NR4 with Income Code 27 from Canada (income from an investment account my father--in-law had who passed last year). How do I report this income and taxes in Turbo Tax? Thanks in advance! 

[LindaS5247]

To enter this NR4 you should:

1. Click on Wages & Income at the top of the page
2. Scroll down to Retirement Plans and Social Security
3. Scroll down to Canadian Registered Pension Income
4. Click Start and enter your income

To report your Canadian tax paid on your retirement for foreign tax credit:

1. Click on Deductions & Credits
2. Scroll down to Estimates and Other Taxes Paid
3. Scroll down to Foreign Taxes
    
4. Click 'Yes" you paid foreign taxes
5. Click through the screens regarding foreign interest and dividends
6. Click yes that you have reported all your foreign income already in TurboTax
7. Click that you want to take a credit
8. Answer question about the Simplified Limitation Election
9. Choose income type for pension - it will be Passive income
10. Add Canada as the country
11. Enter description -Canadian RRIF
     
12. Enter Income amount that you previously reported in TurboTax
13. Enter your taxes you paid on your foreign retirement in the box "Other income"
14. Continue through ALL the foreign tax credit screens until done.

[fredk99]

Hello @LindaS5247, and @AmyC :  I was reading the post from last year, I also have NR4 withe income code 39.  I treat the NR4 as if it is a SSA-1099 and entered it in the Retirement Plans and Social Security section, under ‘Social Security (SSA-1099, RRB-1099)’, however,  I am having issues on the "Deduction" of the Foreign Taxes part,  under the deductions&credits, Foreign Taxes I selected "tax credit",  which takes me to questions for form 1116, and I am not sure what to choose for "Income Category Type".  Is that the correct way? if so, what is the "Income Category Type"? Any help is greatly appreciated.

[AmyC]

Tax credit is usually better than deduction. You can try it both ways, if you itemize, to see which is better. Your income type is general income. See Claiming the Foreign Tax Credit with Form 1116 - TurboTax

@fredk99