turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Ask the Experts about Deciphering Your Tax Forms! >> Event happening TOMORROW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Where do I enter canadian retirement income?

canadian retirement income - where entered?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

8 Replies
PatriciaR
New Member

Where do I enter canadian retirement income?

Here are the steps to enter your Canadian NR4 Statement:

  • While signed into your TurboTax account, Select Federal Taxes (top of program)
  • Select the Wages & Income sub-tab (under Federal Taxes, top left of program)
  • Select Retirement Plans and Social Security (may have to click "Skip to all income" to see all income choices)
  • Select Start or Revisit next to Social Security (SSA-1099, RRB-1099)

The TurboTax interview will guide you through entering your NR4.

To enter any foreign tax you already paid to Canada, follow these steps:

  • Select the Deductions & Credits sub-tab (under Federal Taxes, top of program)
  • Select Foreign Taxes under Estimates and Other Taxes Paid (may have to click "skip to all tax breaks" to see all deduction choices)

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


Where do I enter canadian retirement income?

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?

DaveF1006
Employee Tax Expert

Where do I enter canadian retirement income?

Actually if this a Canadian RRSP withdrawal, you will report this as Canadian Registered Pension Income rather than Social Security (SSA-1099, RRB-1099). 

 

@jllattimer53

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Where do I enter canadian retirement income?

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?

DaveF1006
Employee Tax Expert

Where do I enter canadian retirement income?

To clarify, what Turbo Tax product are you using?

 

@Traned408

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Where do I enter canadian retirement income?

I am using Turbotax Deluxe Windows PC edition.

ErnieS0
Expert Alumni

Where do I enter canadian retirement income?

Here's how to enter your Canadian tax withholding @Transd408

  1. Say Yes to Have you already reported all of your foreign income, and, if applicable, foreign taxes paid on interest, dividends or Schedules K-12?
  2. On Tell Us About Your Foreign Taxes, check None of these apply unless you have carryovers
  3. Choose Itemized Deduction or Take a Credit on Do You want the Deduction or the Credit?
  4. If choosing the credit, continue though the screens
  5. When you reach Choose the Income Type, select Passive Income
  6. Add your country
  7. On Other Gross Income - Canada add your pension in USD (don't worry. This will not be added to your income)
  8. Keep answering questions. You will see Foreign Taxes Paid – Canada where you can add you withholding in USD
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Where do I enter canadian retirement income?

Thanks, I was able to find it based on your advice.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question