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kyled320
Returning Member

I moved to Canada this year from the USA. How do I enter foreign earned income and expenses for after I arrived to Canada?

 
1 Reply

I moved to Canada this year from the USA. How do I enter foreign earned income and expenses for after I arrived to Canada?

You can report your foreign earned income and expenses by completing Line 10400 - Foreign employment income. Before entering any of your foreign amounts with TurboTax, you should keep some general things 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.

For more information, this link below from our website will be useful. 

How to report foreign income. 

If all or a portion of your foreign income is non-taxable due to a tax treaty, declare that amount on line 25600 of your income tax return. For more information about Exempt Foreign Income, please use the link below. 

What Is Exempt Foreign Income?

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