I was able to enter income, but can't find how to enter foreign taxes paid.
I tried to work it as Foreign tax
To report your Canadian tax paid on your retirement income for foreign tax credit:
I was able to follow till step 10. Step 11 - did not see "Other Income". I clicked "Foreign taxes paid" box. enter paid taxes in Reduction in Taxes - but foreign taxes on my summary is still 0. Advise please
You enter your income and description (#9 above) on the screen "Other Gross Income - Canada". The next screen is Definitely Related Expenses -Canada, after that screen is Foreign Losses. Then click Continue and the next page is Foreign Taxes Paid -Canada. This is where you enter the Foreign Taxes on Other Income. I added a screen shot to my answer above.
It is still not taking in consideration taxes paid in Canada, when I choose Passive income. However, when I choose Lump Sum, I got to Foreign Losses screen. I got a message: "Your Lump-Sum distribution income tax credit exceeded your allowed credit. You may be able to carry forward or possibly carry back your excess credit to last year's return." Does it mean that I am not eligible? So, income I got from Canada is being added to my gross income but taxes paid to Canada are not ?
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Question to TurboTaxKarenJ - I am following all instructions, but as a result, I don't see any Foreign credit being calculated. Distribution amount I received from Canada is being added to my income, refund goes down, but taxes I paid tin Canada -25% - are not being consider. Looks like this is a double taxation. Is this correct?