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New Member
posted Apr 19, 2021 9:39:31 PM

Foreign income self-employed

How do I reflect my US self employment income?

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1 Replies
Level 6
Jan 26, 2022 5:20:55 PM

We appreciate you choosing TurboTax,

 

Entering any foreign amounts into TurboTax varies depending on the version of software you're using. Before you begin, there are a couple of general things to keep in mind:

  • You must enter income, pension, and any other amounts into TurboTax, even if your amounts aren’t reported on T-slips.
  • If the amounts on your foreign income slip are reported in a foreign currency, convert them to Canadian dollars before entering them. If the amount was paid at various times throughout the year, use an average annual exchange rate.
  • For foreign nonbusiness income that isn't on a T-slip (including US Social Insurance), do not convert the amounts to Canadian dollars before entering them. TurboTax converts the amounts automatically based on the exchange rate you enter.


To start entering your slip amounts, select your version of TurboTax below, then follow the steps provided.

Instructions for TurboTax Online users

  1. Select Find (or the magnifying glass icon) from the TurboTax menu.
  2. In the Find window, type Foreign slips and select Go.
  3. Select Foreign slips from the options that appear, then select Go.
  4. When the Foreign Slips Summary step appears, add the amount for the slip you'd like to claim.
  5. Repeat the steps above for each new slip and amount you need to enter.
  6. Select Continue.

Instructions for TurboTax CD/download users

  1. Select Find (or the magnifying glass icon) from the TurboTax menu.
  2. In the Find window, type t-slips and select Go.
  3. Select T-slips from the options that appear, then select Go.
  4. When the Entering your federal T-slips step appears, add the amount for the slip you'd like to claim.
  5. Repeat the steps above for each new slip and amount you need to enter.
  6. Select Continue.

 

Please visit the link provided for further clarifications:

TurboTax: How do I report foreign income, foreign pension, and other foreign amounts?

 

Please contact our phone support team or contact us directly on Facebook or Twitter if you require further assistance.