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New Member
posted Oct 30, 2019 12:47:40 AM

Please advise how to claim credit for Taxes paid abroad on sale of "Personal Use Property" abroad and report Capital Gains.

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1 Best answer
New Member
Oct 30, 2019 12:47:42 AM

You can report your total Capital Gain and foreign tax under the "Income" tab > "T-slips" "Foreign Income" (bottom of the list) in Canadian currency. When entry the "Capital Gain" note that the software will report only 50% of the amount you enter in the "Foreign Capital Gains or Losses" input box. Then provide the amount of tax withheld and the country this transaction occurred in.

1 Replies
New Member
Oct 30, 2019 12:47:42 AM

You can report your total Capital Gain and foreign tax under the "Income" tab > "T-slips" "Foreign Income" (bottom of the list) in Canadian currency. When entry the "Capital Gain" note that the software will report only 50% of the amount you enter in the "Foreign Capital Gains or Losses" input box. Then provide the amount of tax withheld and the country this transaction occurred in.