How do I report royalty income which hasn't been payed out to me?

In 2023, I made around 9 Euros in royalties through my music distributor who I believe is based in Berlin. But I have not had this money payed out to me in my bank account, so it only sits in my account with them as Cash Credit. I'm not sure if I need to claim this? My main income is salaried employment

2115

Intuit Alumni

Apr 12, 2024 3:38:01 PM

You may need to contact the Canada Revenue Agency (CRA) to clarify what should be done in this case; if you were suppose to receive an information slip and if you declare this income only after you've received it? Please call the CRA for clarification at 1-800-959-8281.

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Returning Member

Apr 13, 2024 1:04:07 PM

Thanks,

I called them and they said it does need to be reported. They also said since it's earned in Euros over time, to try and take the monthly average exchange rate to convert each months earnings.

Moderator

Apr 13, 2024 5:11:43 PM

You can enter it on the Foreign slip, since it's foreign income. Or you can report it as Other employment income if you didn't pay foreign tax on it.

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How do I report royalty income which hasn't been payed out to me?