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Hi. Can anyone tell me how to report a loss on the T1135 (Foreign Income Verification Report)? Turbotax gives me an error when I put a negative number into the cell. Thnx
April 30, 2023
12:01 PM
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Investors and rental owners
The purpose of Form T1135 is to identify foreign property and not to calculate taxable income. For a loss you can indicate $0 for income on the T1135.
The income and the gain (loss) on the disposition of each particular specified foreign property have to be reported separately on Form T1135.
May 1, 2023
9:06 AM