I receive distributions from a Canadian RRIF. These have tax witheld at source. The distributions are taxable in U.S. How do I get credit for foreign tax paid?
I receive distributions from a Canadian RRIF. These have tax witheld at source. The distributions are taxable in U.S. How do I get credit for foreign tax paid?
I receive distributions from a Canadian RRIF. These have tax witheld at source. The distributions are taxable in U.S. How do I get credit for foreign tax paid?
Here are the steps to enter Foreign Taxes paid:
Sign into your TurboTax account and click Take me to my return
Select Federal (in left column)
Select Deductions & Credits (top of program)
If you see Check for more tax breaks - select that option (click on screenshot below for details)
This will open another option that reads See list of all tax breaks (click on screenshot below)
Scroll down to Estimates and Other Taxes Paid (you may need to select Show more) click on screenshot below
Enter the amounts converted to U.S. dollars as of the transaction date. Please click this link for historical conversion rates: Treasury Reporting Rates of Exchange
I receive distributions from a Canadian RRIF. These have tax witheld at source. The distributions are taxable in U.S. How do I get credit for foreign tax paid?
Click on Foreign taxes and takes you back to the RRIP income section where not given a place to enter foreign taxes paid. Circular!!
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