Investors and rental owners

Hello gwt01,

 

If you are uncertain, I would advise you to delete these T-slips and re-enter them if the numbers are not adding up.

Also, you must take into consideration the type of foreign income, and from what source country. You may have other foreign-sourced entries as well that may affect the calculation.

 

Excess tax paid (Section 20(11))  is calculated automatically. From the CRA please review the following link to explain why jump to "1.22 NBIT".  - https://www.canada.ca/en/revenue-agency/services/tax/technical-information/income-tax/income-tax-fol...

And the following link to explain the calculation - https://www.canada.ca/en/revenue-agency/services/tax/technical-information/income-tax/income-tax-fol...

 

For further details please see our TurboTax blog article: The Federal Foreign Tax Credit