How do I enter foreign rental income in TurboTax?

Note: All amounts entered into TurboTax should first be converted to Canadian dollars. The CRA will accept the Bank of Canada exchange rate in effect on the day you received the income.

1. Answer the initial Personal info and Tax profile interview questions if you haven't already. This unlocks the Tax home screen.
2. From the Tax home screen, under Add to your return, enter Rental and select Rental Properties.
3. At the Rental Profile screen, select the checkbox for Rental Income and all other boxes applicable to your situation, then continue.
4. At the Real Estate Rentals Statement screen, enter all available information and ensure you've made the correct choice for Type of ownership, and continue.
5. At the T776 Rental Income screen enter:
   • As much of the foreign address as you can. Include a postal code equivalent (like a Postal code for a US address) in one of the fields, but not the Postal Code field.
   • Your home province and postal code in the Province and Postal code fields.
   • The gross rental income.Then enter other related income, if any, then continue.
6. If you checked other rental profile boxes, enter the required info for those items as they appear. 
7. When all rental items have been completed, select Done With Rental Income.
8. If you arrive at the Foreign Income Verification Statement (T1135) screen, provide the information requested about the property cost and reporting method, and complete the T1135 screen(s) that followOn the Rental Summary screen.
9. From the Tax home screen, enter foreign tax in the search field and select Foreign Tax Credit.
10. At the Foreign Taxes screen, select Yes for Do you want to determine how much you can recover?
11. At the Foreign Tax Credits screen, enter the name of the foreign country, then enter your amounts for Foreign real property income. Then enter your amounts for Deductions from foreign real property income (if applicable), and Foreign tax paid on real property income, then continue.
12. On the Foreign Taxes Summary screen, select Continue.
13. You’ve now entered your foreign rental income and claimed any applicable foreign tax credits.

Important: For the foreign rental income just entered into TurboTax, don’t enter the same foreign rental income again on a Foreign slip screen, as this will duplicate the amounts reported.

Note: All amounts entered into TurboTax should first be converted to Canadian dollars. The CRA accepts the Bank of Canada exchange rate in effect on the day you received the income.

1. From the menu, select Find and enter rental in the search field. Then select Rental property from the results, then select Go.
2. Select Yes to Did you receive income from a rental property?
3. Continue until the Real Estate Rentals Statement #1 screen. Enter your information, then select Continue.
4. At the Rental Profile #1 screen, select the checkboxes for Rental Income and all other applicable boxes, then select Continue.
5. At the T776 Rental Income screen, enter as much of the foreign address as you can. Make sure you include the postal code equivalent. However, enter your home province and postal code in the Province and Postal code fields.
6. At the same screen, enter your gross rental income, then select Continue.
7. Enter your rental expenses if applicable, then select Done With Expenses.
8. At the Multiple Rental Activities screen, select Yes if you need to enter another Real Estate Rentals Statement. Otherwise, select No.
9. At the Rental summary screen, select Done With Rental Income.
10. Switch to Forms mode by selecting Forms from the menu.
11. Select the Forms button from the bottom,  then select Form Lookup.
12. In the Keyword to search for field, enter FTC.
13. Select Foreign Tax Credits Worksheet, then OK.
14. In the Foreign Non-Business Income section, select the field for Real property income in the applicable column. Enter your net foreign rental income, then press Enter on your keyboard.
15. On the same screen but in the Foreign Non-Business Tax section, select the field for Real property income in the applicable column. Enter the amount of foreign tax paid on your rental income, then press Enter on your keyboard.
16. You’ve now entered your foreign rental income.