Using Online Premier to fill out Form T1135: I have more than CAD$250 000 foreign asset and my wife have more than CAD $100,000 and below CAD$250 000 US stocks at any time in Year 2023. When filling out T1135 item and after selecting the drop-down selection, and I finished my part, but after that I expected another form with check box to come up for my wife to fill out the necessary information but no form would come up and the Online program continued to the next stage of the filing.
Is this normal that I don't need to fill out Form T1135 because of more than CAD $100,000 and below CAD$250 000?
Or, I missed something that I indeed need to fill out Form T1135? Please help.
To get the Foreign Income Verification page for your spouse in TurboTax Online Standard/Premier/Self-Employed, please follow these next steps:
In the menu on the left, click on My Info then scroll down to select Personal Tax Profile [Spouse’s Name].
In the screen on the right, click the Edit button next to “Your home and other property”.
On this screen, scroll down, and select Yes to the question “did you own or hold specified foreign property…” then scroll down to click the Continue button to save.
Now go back to the menu on the left side and click on Income then Other Income Sources then select Foreign Income Verification Statement (T1135).
Click the Continue button to go through your T1135, and you should get one for your spouse after the last page of your T1135.
Thank you for choosing TurboTax.
my wife did select Yes to the question “did you own or hold specified foreign property…” . The real problem is the system did not allow my wife to do the simplified reporting (for foreign property between $100000 and 250000). If either of us got specified foreign property more than $250000, both of us need to file through the detailed reporting. Is it a bug?
I have tried if both of us choose "$100000 - $250000", the check box appeared for us to choose simplified reporting.
In order to help you with this situation, we believe your best option is to contact our telephone support team for further assistance, as they have the option to view your screen to help resolve the issue. To contact them, please follow this link: Contact Us. When asked if you wish to receive an email say NO then say "speak to a representative" then hold the line. If a resolution is not reached, please ask for an escalation to investigate and find one.
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