In the "Other Deductions - line 23200" the TurboTax Return states that the amount comes from "Foreign tax deduction under subsection 20(12). The only place in my return that records foreign tax paid on investment income is in the T5s, T3s & 1042S.
When I add up the foreign tax paid from these slips, it does not add up to the amount that has been calculated by TurboTax and shown on 23200. Is there a formula being applied by TurboTax? I would like to understand this difference between my calculation & that of TurboTax. Thanks in advance.
Amounts on line 23200 can include many different things. Some examples include:
So if the amount doesn't match your foreign tax deduction, then there may be something else contributing to what is on the line.
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