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Entering any foreign amounts into TurboTax varies, depending on the version of software you are using. Before you begin, there are a couple of general things to keep in mind: You must submit income, pension, and any other amounts in TurboTax, even if... read more
Rental income is income you earn from renting property that you own or have use of. You can own the property by yourself or with someone else. Rental income includes income from renting: houses apartments rooms space in an office building other real ... read more
Your spouse's net income for the tax year is required to calculate certain spousal credits when filing a joint return. If you choose to prepare your returns together, TurboTax can automatically optimize credits and deductions between you. Most spousa... read more
Entering any foreign amounts into TurboTax varies, depending on the version of software you are using. Before you begin, there are a couple of general things to keep in mind: You must submit income, pension, and any other amounts in TurboTax, even if... read more
Entering your US rental property into TurboTax takes is a very straightforward and simple task. First, you will need to enter your rental property information and income. Then, provide all required information on the T1135-Foreign Income Verification... read more
In short, you don't. Canada doesn't have an inheritance tax, so beneficiaries generally don't pay taxes on what they've inherited. The deceased person's legal representative is supposed to file a deceased tax return and make sure the estate pays or s... read more
When you don’t know your spouse’s income and can’t find out through reasonable means, the CRA recommends that you enter your best estimate. The CRA will assess your and your spouse’s (or former spouse’s) returns together to ensure that credits and de... read more
Rental income is income you earn from renting property that you own or have use of. You can own the property by yourself or with someone else. Rental income includes income from renting: houses apartments rooms space in an office building other real ... read more
Whether you need to declare income from outside sources is dependent on a variety of factors, ranging from the type of income you have earned to the size and quantity of your investments. You can learn about some of the common instances for declaring... read more
If you have other employment income to report, there are several ways to enter it into TurboTax (depending on whether you are reporting this income on slips or forms). It is important to note that employment income (line 104 of your T1 General), is n... read more
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