Thanks for your question. If you received a pension from another country, report in Canadian dollars your gross foreign pension income received in the year. Use the Bank of Canada exchange rate in effect on the day you received the pension. If you received the pension at different times during the year, use the average annual rate. The average monthly rate and the daily rate are available by visiting the Bank of Canada website.
How to enter Pension Income
The fastest way to get there would be to use the “Find” tool in the blue bar on the top right corner. Click “Find” and search for “Foreign Income”, then select it from the list and click on the “Go” button.
Then click on “Enter Foreign Income”. Enter amounts in Canadian dollars or enter them in the foreign currency and enter the exchange rate in the box provided. TurboTax converts the amount to Canadian dollars for you.
Click “Done with Foreign Income” to save the information you have entered.
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