How to file Foreign rental property with Foreign tax credit

[sheila2024]

As much as I would like to believe that they will fix the issue, my thoughts are that they will not.

If you look at the previous thread I linked it is dated from 2020!! This means that they've been aware of the issue for 4 years!! If they haven't fixed it by now, chances are likely that they won't.

Maybe you can get some traction with your office of the president case.

[TurboTaxGinette]

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[baosui]

If I understand the issue correctly, this is about how to report foreign real property rental tax paid using TurboTax. This is how I do it:

1. go to T-slips, find T5013-4 under federal slips

2. find line 171 foreign tax paid on non bus

3. click to open the blue box

4. enter in the middle box named foreign tax paid (rental)

Not sure why TurboTax has this hiding so deep in the program and does not make this entry at bottom of the form where income and expenses are reported (if you search turbotax help, it says that you can enter it here since 2018, but i can not see anything). I am not sure whether this is correct and whether I can my fair amount of credit back. There seems a bit reduction on my tax but very limited , certainly not close to what I have paid.

Hope this helps.

[baosui]

Sorry I have missed one step - you also need to report on T5013-2 line 111 the rental income associated to the amount of foreign tax you paid.

Hope Turbo Tax can help with a more authentic answer.

Thanks!

[TurboTaxGinette]

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