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wacky2
New Member

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?

 
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2 Replies
PatriciaR
New Member

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 moreclick 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   

For more information specific to the US/Canadian tax treaty, please see IRS Pub 597 Information on the United States-Canada Tax Treaty

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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