Where to declare the interest income from funds invested in a foreign country over $100K? I see two sections in Turbotax - 1) Foreign Income: 2) T1135.
Where to declare the interest income from funds invested in a foreign country over $100K? I see two sections in Turbotax - 1) Foreign Income: 2) T1135.
When I add it as "investment income" under "Foreign Income" section, it affects my refund amount. However, when I enter the same amount as "investment income" under T1135 form details, it has no impact on the refund amount.
Since the amount is > $100K I have to enter it in T1135. Am I supposed to enter it in the Foreign Income section also? I don't want to double count it, nor do I want to miss declaring it.
Where to declare the interest income from funds invested in a foreign country over $100K? I see two sections in Turbotax - 1) Foreign Income: 2) T1135.
You need to enter the amount under foreign Income and then it needs to be part of the total amount listed in T1135.
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