How do I report foreign income, pension, and other foreign amounts?

by TurboTax• Updated 1 week ago

The steps for entering any foreign amounts into TurboTax depends on the version of software you're using. Before you begin, there are a couple of general things to keep in mind:

You must enter income, pension, and any other amounts into TurboTax, even if your amounts aren’t reported on T-slips.
If the amounts on your foreign income slip are reported in a foreign currency, convert them to Canadian dollars before entering them. If the amount was paid at various times throughout the year, use an average annual exchange rate.
For foreign nonbusiness income that isn't on a T-slip (including US Social Insurance), do not convert the amounts to Canadian dollars before entering them. TurboTax converts the amounts automatically based on the exchange rate you enter.

Select your product and follow the instructions.

TurboTax Online

Answer the initial Personal Info interview questions if you haven't already. This unlocks the Tax Home screen.
From the Tax Home screen, under Add to your return, enter foreign and select Foreign income.
On the Foreign slip screen, complete the foreign income slip.
For each additional slip to be entered, select Enter Foreign Income and repeat the previous step. When done, select Done With Foreign Income.
On the Foreign Income - Summary screen, select Done With Foreign Income.

TurboTax Desktop

Select Find (or the magnifying glass icon) from the TurboTax menu.
In the Find window, enter t-slips and select Go.
Select T-slips from the results list, then select Go.
On the Entering your federal T-slips screen, select Foreign Slip.
Select Continue until you arrive at the Foreign Slip screen.
Complete the foreign slip.
For each additional slip to be entered, select Enter Foreign Income and repeat the previous step. When done, select Done With Foreign Income.
On the Foreign Income - Summary screen, enter any portion of foreign income exempt under a tax treaty.
Select Done With Foreign Income.