I realize that I have to make a currency conversion. When I transfer the info from my 1099R slip into Turbo Tax ... do I transfer the exact numbers (once exchanged) to the appropriate slip in Turbo? I can find the slips no problem.
What I need to know is ...
Do I enter the the income and taxes witheld (on 1099R) into the appropriate boxes and then your program computes any applicable foreign tax credit on it?
Turbo Tax will calculate the foreign tax credits once you have entered the income in the T-slip section (foreign income).
You can do the conversion yourself or let Turbotax do it for you, just enter the conversion rate.
Turbo Tax will calculate the foreign tax credits once you have entered the income in the T-slip section (foreign income).
You can do the conversion yourself or let Turbotax do it for you, just enter the conversion rate.
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