NR4 - box 61 - "Arm's Length Interest payments" to be reported under the "Income" tab - "Investments" - then "Interest on Bank accounts not reported on a Tslip"
I have the same issue. Under "Interest on Bank accounts not reported on a T-Slip", we can only enter the gross income but there is no place to put the amount of tax withheld for claiming a credit. In TurboTax, do you know where I can claim a credit related to the NR4 tax withheld (see CRA's instructions below). I think there should be a place for me to upload the NR4 slip in TurboTax before I submit my tax return.
Below are CRA's instructions for Canadian residents:
A payer may have withheld non-resident tax from you and, as a result, you received an NR4 slip. If so, attach a copy of the NR4 slip to your Individual Income Tax Return, Corporation Income Tax Return, or Estate Trust Return, as applicable. Claim a credit for the non-resident tax against the tax payable in the return.
You would send that form along with a copy of your NR4 slip to apply to get the taxes you withheld back. This is separate from your tax return.
But, as NR4 slips are supposed to be sent to non-residents, you can contact the bank or whatever institution sent you the NR4 and let them know you are a resident. Ask if they can withdraw the NR4 slip and give you a Canadian slip (such as a T5).
It's HSBC which will be migrated to RBC soon. They won't withdraw NR4 and reissue T5 for sure. It seems I will need to contact CRA directly.
Yes, it might be your best option if you are having difficulties at your bank.
Thank you for choosing TurboTax.
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