how do i manually enter forein pension on line 11500

[1trebnet1]

and i do not have t4a

[TurboTaxSusan]

Please see this TurboTax Canada FAQ for instructions: How do I report foreign income, pension, and other foreign amounts?

[sgarg15]

To manually enter foreign pension income on Line 11500 of your Canadian tax return, follow these steps:

1. Gather Documentation: Ensure you have all necessary documentation related to your foreign pension, such as pension statements or forms that indicate the amount received during the tax year.

2. Convert to Canadian Dollars: Convert the pension income to Canadian dollars using the Bank of Canada’s average annual exchange rate for the tax year, unless you have a more precise conversion from the time of each pension receipt.

3. Tax Software or Paper Filing:

   • Using Tax Software: If you are using tax software like TurboTax or another program, locate the section for entering foreign income. It's typically found under the "Income" tab or similar section. Enter the total amount in Canadian dollars.
   • Manual Entry (Paper Filing): If you are filing a paper return, directly enter the Canadian dollar amount of your foreign pension on Line 11500 of the T1 Income Tax and Benefit Return.

4. Additional Forms:

   • Complete Form T2209, Federal Foreign Tax Credits, if you paid foreign taxes on your pension income and wish to claim a credit to avoid double taxation.
   • You might also need to fill out Form T1135, Foreign Income Verification Statement, if you meet certain criteria regarding foreign assets.

5. Consult Instructions: Refer to the instructions provided by the Canada Revenue Agency (CRA) for specific guidance or any updates related to foreign pension income.

6. File Your Return: Once all forms are accurately completed, proceed to file your tax return either electronically through NETFILE or by mailing your paper return to the CRA.

7. Keep Records: Maintain copies of all documents and calculations used in preparing your tax return, in case the CRA asks for verification.

If you encounter difficulties or have doubts about the process, consider consulting with a tax professional who has experience with foreign income to ensure everything is reported correctly and to optimize potential foreign tax credits.