I'd like to inquire if a payment from a foreign government (Hong Kong to be specific) should be filed as foreign income as it's unearned and for covid relief purpose?

The payment is from Hong Kong government called Cash Payout Scheme for your reference. Related news here: https://www.bnnbloomberg.ca/hong-kong-will-hand-out-hk-10-000-cash-to-adults-in-budget-1.1395788 If it should be reported, where and how should I report the income on Turbotax. Thanks!

257

Expert Alumni

Mar 9, 2021 4:58:23 PM

Yes, you will need to report this but report it as other miscellaneous income.

Go to federal>income and expenses>all income>>show more
Less Common Income> Start
Miscellaneous Income,>start
Other reportable income>start
Next screen asks Any Other Taxable Income>yes
The next screen will allow you to report the income with a brief explanation that tis is a COVID payment from the Hong Cong government.