In the federal deductions page summary the "foreign tax credits" line does not appear to correctly reduce Total Income, resulting in an overstated Net Income. Clarity?
In the federal deductions page summary the "foreign tax credits" line does not appear to correctly reduce Total Income, resulting in an overstated Net Income. Clarity?
I see it shows up in the final "review" summary page. A bit unclear at first but it's fine.
In the federal deductions page summary the "foreign tax credits" line does not appear to correctly reduce Total Income, resulting in an overstated Net Income. Clarity?
But in the "detailed tax summary" I do not see it under line 405. Why is this?
In the federal deductions page summary the "foreign tax credits" line does not appear to correctly reduce Total Income, resulting in an overstated Net Income. Clarity?
Your Foreign Tax Credits are Non-Refundable Tax Credits used to reduce any tax payable you have. These credits do not reduce your taxable income, and will not be seen on the Detailed Tax Summary. Line 406 can be seen on Schedule 1 of the tax return. You can see the Schedule 1 (Provincial 428) on the PDF version or saved copy once you complete the payment process for your TurboTax Online return.
Note: The "payment" process must be completed in the Free version of the software before you can access this PDF version as well.
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