Yes, you can still e-file your Federal return with the Canadian Form NR4, (code 61=interest income).
To add a Canadian NR4, code 61 add it as if it were Form 1099-INT (before filing):
1. Sign In or Open TurboTax.
2. Select "Take me to my return" (Online).
3. Select the "Search" or "Help" icon (top right corner).
4. Type "1099-INT" and select "Jump to 1099-INT"
5. Continue through Form 1099-INT Interview to add your NR4, interest income.
**Remember to convert the Canadian funds to US $ before entering into TurboTax.
If you already filed your return, click here for how to amend, correct, edit, or update your return.
Yes, you can still e-file your Federal return with the Canadian Form NR4, (code 61=interest income).
To add a Canadian NR4, code 61 add it as if it were Form 1099-INT (before filing):
1. Sign In or Open TurboTax.
2. Select "Take me to my return" (Online).
3. Select the "Search" or "Help" icon (top right corner).
4. Type "1099-INT" and select "Jump to 1099-INT"
5. Continue through Form 1099-INT Interview to add your NR4, interest income.
**Remember to convert the Canadian funds to US $ before entering into TurboTax.
If you already filed your return, click here for how to amend, correct, edit, or update your return.
This does not make sense to me when I go through the form steps you provided. This is not a Social Security or disbursement from my retirement accounts. This is just interest income. Are your sure this is the correct location ?
Edited 2/20/18 9:20 a.m. See answer above to enter NR4, code 61.
could you provide detail steps how to enter the code 61 in the software? I can not find where to enter this code. thanks!
The actual code "61" does not need to be entered in TurboTax. Code 61 lets you know to account for the funds received as (interest income) and to enter the amount as if it were recorded on IRS Form 1099-INT.
thanks for your quick response! So I just enter the NR4 interest amount in the Box1 on 1099-INT ?
One more question, I have interest income from Canadian bank. But they gave me T5 form instead of NR4. Can I do the same for the interest income on T5 and enter the income amount on 1099-INT? thanks again!
Due to your adding a different question, I have to ask that you submit a new question in the community; so others' having the same question may also benefit. This thread is only supposed to provide answers pertaining to the initial question asked. Thanks!
thanks, how to submit a question? I am new in the forum and could not locate the place to submit question.
Question - What CAD to USD conversion rate did you use?
I used the rate from bank of Canadas site. <a rel="nofollow" target="_blank" href="https://www.bankofcanada.ca/rates/exchange/daily-exchange-rates-lookup/">https://www.bankofcanada.ca/rates/exchange/daily-exchange-rates-lookup/</a>. Just pick the date when you received the money
I can't find the form 1099-INT is there another way to do it instead of the way above?
To report the Interest Income: