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I have a T5013 with foreign business income. In TurboTax, I entered "USA" in "source country" box 3 and the applicable amounts in boxes 104, 105, 106 and 113, I entered the foreign tax, Box 172, in the T5013-4. In the foreign tax credit calculation on form T2209, I see the foreign tax paid amount on line 43400, however, I do not see any foreign income on line 43900. As a result, the Federal foreign tax credit is $0. Is there another way to enter the foreign income so that the tax credit is calculated?
Check the bottom of the T2209S, as the amount on line 11 is the lesser of lines 4, 7 or 10, so your foreign tax paid might not be the lowest of those lines.
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Lorag
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Jo-AnnM
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