Claiming a foreign tax credit on Canadian Registered Retirement Income Fund (RIF) Payment

I was happy to see that Intuit added an easy way to enter Canadian RIF income under wages and income. Last year I was told by TurboTax “tax experts” to enter the NR4 as social security. The problem with the new feature is there isn’t a field to enter the tax withheld at source. The tax treaty between Canada and the US calls for a 15% tax on RIF income. Most US residents receiving a Canadian RIF payment detailed on a NR4 would have a tax withholding amount. It should be easy for Intuit to add a tax withholding field and automatically enter the withheld amount as a foreign tax credit. The current system of manually entering the RIF income paid as a foreign tax credit is horrific. I had to speak with several Turbo Tax “tax experts” before I found one who could walk me through how to enter the foreign tax credit on the RIF income. I hope Intuit takes note of this request as a nice enhancement for 2025 taxes.

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