Foreign Withholding Tax

Hello,

TurboTax allows the user to specify 'Income from Foreign Sources', but I cannot figure out how to actually enter the amount of foreign tax withheld. It's important because my understanding is that the CRA will allow an up to 15% credit for tax paid to a foreign government. Please advise. It appears that only withholding tax that's been reported on a T3 or T5 slip is included in the calculation for line 40500.

Thanks.

710

Level 3

Aug 20, 2021 1:34:18 PM

If you had foreign income and paid foreign taxes on that income.

Enter foreign income in the income section. Then go to the tax credit
Search for Foreign Tax Credit and Jump to the interview and answer the questions.

TurboTax will create the 1116 for and attach it to your return. You can alternately chose to take the foreign tax as a Schedule A deduction.

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Foreign Withholding Tax