In which section should I declare foreign rental property income and expenses?

 

Investors and rental owners

When using TurboTax Premier Online - To claim foreign rental property income and expenses you will go under "Income" and click on "Rental Properties". You will get to the Rental profile and you will check off both "Rental Income" and "Rental Expenses" then continue.

Rental Income will be the next page T776 which you will complete as follows-     For "Foreign Rental Property" enter your Canadian home postal code for the "Postal Code" for the property and your home province for the "Province".   In the "Address" for the property, fill out as much of the property's address as will fit, including the equivalent of the postal code (such as a ZIP code for US addresses). Note that the CRA's NETILFE/EFILE servers will accept only the first 30 characters of the address.  Continue to the next page which is the Rental Expenses.  *Be sure to enter the amounts in Canadian dollars".

           
     


                                            
                                       


Investors and rental owners

@TurboTaxBrenda1 Where do you put your foreign tax paid?

Investors and rental owners

You will go to the "Income" tab – Other Income Sources and there you will find Foreign Income Verification Statement (T1135). This is where it will all be entered.