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posted Apr 18, 2022 5:24:59 PM

I am self-employed and have income from foreign sources. Do I enter this income in the Self Employed section, Foreign Income section, or both?

My self-employment income includes income from foreign sources such as YouTube AdSense (which withholds US taxes), Patreon, and other individual transactions.
Do these amounts get reported in the section for Self-Employment Income, or for Foreign Income? Or both? How do I ensure I am not double-taxed on it?

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2 Replies
Level 3
Apr 20, 2022 8:06:20 AM

You will need to report this income as Foreign Income. Any sources of money earned outside Canada will need to be reported as foreign income in order for the Canada Revenue Agency (CRA) to determine any outside sources of income. 
It’s important to understand that the CRA has a number of different tax treaties and reporting requirements vary based on where your income originates. To understand how your income is classified, you may need to contact the International Tax Services Office.
For more information please refer to the following TurboTax article:

Thank you for choosing TurboTax

Level 4
Apr 20, 2022 9:56:37 AM

From your situation as mentioned above, it is clear that the income that you earn based on foreign sources should be entered into the foreign income section.
Below are the steps on how to enter foreign income and check whether you are doubled taxed or not: -
  • Click on the "Find" (Magnifying Glass) section on your 2021 tax file in TurboTax online.
  • Type "Foreign", and click on "GO"
  • Click on "Enter new foreign income from your name", and on this page, you can enter your foreign income.
  • Click on "Done with the foreign income"

To make sure if you are doubled taxed or not, you can check a detailed income tax summary once you are done with all the details at the end.

 

For more information about Foreign income please visit this page of TurboTax: -

Foreign Income and Tax Treaties

 

Thank you for choosing TurboTax.