canadian retirement income - where entered?
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Here are the steps to enter your Canadian NR4 Statement:
The TurboTax interview will guide you through entering your NR4.
To enter any foreign tax you already paid to Canada, follow these steps:
Enter the amounts on your NR4 converted to U.S. dollars as of the transaction date. Please click this link for historical conversion rates: https://www.fiscal.treasury.gov/fsreports/rpt/treasRptRateExch/treasRptRateExch_home.htm
Click on screenshots below for more detail
For more info specific to the US/Canadian tax treaty, please see http://www.irs.gov/pub/irs-pdf/p597.pdf
It is 2021 and the section "Deductions and Credits section / Foreign Taxes under Estimates and Other Taxes Paid" only offers me to put foreign tax withheld for Dividends, not for retirement income of RRSP withdrawls. Not sure how to enter my foreign tax paid amounts for these income types?
Actually if this a Canadian RRSP withdrawal, you will report this as Canadian Registered Pension Income rather than Social Security (SSA-1099, RRB-1099).
That is where I put it but I still need to know where to put the tax withholding. I need to claim a Foreign Tax Credit but in the foreign tax credit section under Deductions and Credits / Estimates On Other Taxes Paid / Foreign Taxes, I am not given the option to add anything but for dividends. Perhaps I need to complete the 1116 manually?
To clarify, what Turbo Tax product are you using?
I am using Turbotax Deluxe Windows PC edition.
Here's how to enter your Canadian tax withholding @Transd408
Thanks, I was able to find it based on your advice.
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