How to report foreign source retirement income tax credit from canadian RRSP

Forum|Forum|7 years ago
June 5, 2019
13 replies
123 views

No, you do not have an answer to my question, very unfortunately

Best answer by PopeyeTheSalior

To receive a foreign tax credit on the amount you pay taxes to both US and Canada, in the TurboTax program, go to:

At the right upper corner, in the search box, type in foreign tax credit and Enter
Select the 1st choice on the search results - Jump to foreign tax credit
Start with screen Foreign Taxes and select Continue to follow prompts.

To enter Canadian RRSP information, go to:

Across the top, select tab Federal taxes / Wages & Income
Scroll down to Retirement Plans and Social Security / Canadian Registered Pension Income, select Start

PopeyeTheSaliorAnswer

Level 13

To receive a foreign tax credit on the amount you pay taxes to both US and Canada, in the TurboTax program, go to:

At the right upper corner, in the search box, type in foreign tax credit and Enter
Select the 1st choice on the search results - Jump to foreign tax credit
Start with screen Foreign Taxes and select Continue to follow prompts.

To enter Canadian RRSP information, go to:

Across the top, select tab Federal taxes / Wages & Income
Scroll down to Retirement Plans and Social Security / Canadian Registered Pension Income, select Start

hosituandung

Level 2

I followed your suggestion, and reported income under RRSP

but TurboTax2018 only let me declare the foreign tax paid for income from 1099-DIV, and not from RRSPs

should I fill out Form 116 and report the foreign tax paid on this form?

TamVN

Level 2

I have the same problem, TurboTax 2019 only let me declare the foreign tax paid for income from 1099-DIV, and not from RRSPs. Is there a way for me to enter data into the form 1116 and for Turbo Tax to capture the credit (RRSP witholding amount)? How is it done? Previous answers are not sufficient.

Thanks