Foreign taxes for pension, US interest, US capital gains (personal use property) was $5600 to be paid. Would this be the number I put on line 1 of T2209 - non business income tax paid to a foreign country? Or does it have to be broken down somehow depending on the type of income being taxed??
I also read somewhere that non business foreign taxes not recovered as a tax credit can be deducted from line 232 on the T1. I remember it also said that anything in box 20(11) and 20 (12) can also be claimed on this line. Do you have any knowledge of this?
Pension, interest, and capital gains, these are all separate entities. You may have Tslips for these as well and if that is the case, you will find them under the Income tab - Tslips.
If your personal use property in the US is valued at over $100,000, you will need to fill out a T1135 form which can be found in the Income tab drop down to Other Income Sources and you will see the T1135.
You may be eligible for a tax credit and the software is designed to calculate and optimize any credits or deductions that need to be made, but only if you are correctly entering the amounts.
Below, is a link that will help you understand your foreign sources reporting so you are correctly compensated.
How do I report foreign income, pension, and other foreign amounts?
https://turbotax.community.intuit.ca/replies/2647976
For more information from TurboTax Tips :
Using the United States-Canada Income Tax Treaty to Reduce Double Taxation
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