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How do I access to line 256? to deduct the foreign pension?

 
2 Replies

How do I access to line 256? to deduct the foreign pension?

First of all what should I declare as pension Income the Canadian equivalent or the foreign value? You ask for the exchange rate . This leads me to think that you want me to declare the foreign amout .

I used Impot Rapide for decades and never had any problems whatsoever.

TurboTaxHeba
Intuit Alumni

How do I access to line 256? to deduct the foreign pension?

You report this amount under the Foreign Income Slip:

https://turbotax.community.intuit.ca/community/other-income/help/how-do-i-report-foreign-income-fore...

 

 

Depending on how the amount is reported on the slip > if it is reported in a foreign currency, you will have to convert it to Canadian dollars:

https://www.bankofcanada.ca/rates/exchange/annual-average-exchange-rates/

 

If you are using TurboTax Online:

Under the same Foreign Income Slip > use the "Other pension income: Exempt portion" Box to report the deduction on line 25600

 

If you are using TurboTax Desktop/Download:

Under other deductions > continue to the last page of Additional deductions and add it under "Other income exempt under a tax treaty"

 

I hope this was helpful