I paid Canadian tax for my Canadian rental property. Where do i go to claim credit for my tax paid in Canada so I won't be double paying tax in Canada and US. Turbo tax keep asking about 1099!?! which I have done and cannot move forward!?!
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It depends. First enter your Canadian Income by:
Thanks Dave! Will try this out!
Should I enter the foreign tax paid for property rental under Passive category income or General category income?
You should categorize it under Passive Income. After entering information under Rental section, continue to go through the foreign tax credit section to complete the transaction. Here are the steps:
Here are the steps:
If you pay taxes on your rental to both Canadian and US government, the IRS allows you to claim a foreign tax credit on your Form 1040. It will show on Schedule 3 line 1 and line 20 on Form 1040.
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