Entering any foreign amounts into TurboTax varies, depending on the version of the software you are using. Before you begin, there are a couple of general things to keep in mind:
- You must submit income, pension, and any other amounts in 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 you enter them. If the amount was paid at various times throughout the year, use an average annual exchange rate.
- For foreign non-business income that is not on a T-slip (including US social security), do not convert the amounts to Canadian dollars before you enter them. TurboTax converts the amounts automatically based on the exchange rate you enter.
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