Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 

Do I need to claim international income?

 
1 Reply
YenP
Level 3

Do I need to claim international income?

Yes, whether you live in Canada or are a deemed resident of Canada who lives in another country, you have to report all of your international income on your return.

 

However, you may be able to claim a credit for any foreign tax you have paid on your income. When completing your income tax return, convert your foreign income and tax to Canadian currency using the exchange rate published by the Bank of Canada.

 

To calculate the amount of your credit, complete Form T2209, Federal Foreign Tax Credits. Then, claim your credit on line 40500 of your income tax return.

 

Please find more information about residents or deemed residents of Canada and details of Foreign Income Tax Credit at this link:

https://turbotax.intuit.ca/tips/foreign-income-and-tax-treaties-6219#:~:text=Whether%20you%20live%20...