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Foreign Rental Income


pgyara
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I have a question on reporting foreign income and tax paid.

 

I have foreign rental income and am reporting it under T776 and then also completing T2209 to enter the tax amount paid. This is duplicating the revenue. How do I report the foreign rental income to avoid duplicating the income. Please help

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You must report your foreign rental income and foreign taxes paid under the "Foreign Income" section by selecting the "Foreing Rental Income" as well as under the "Rental Property Income" section.

 

Even though you enter the income twice, it will be reported once on line 160.

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You must report your foreign rental income and foreign taxes paid under the "Foreign Income" section by selecting the "Foreing Rental Income" as well as under the "Rental Property Income" section.

 

Even though you enter the income twice, it will be reported once on line 160.

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  • 2 weeks later...

Thanks for that response on the rental income.  I saw that the software behaved this way for foreign rental income, which seemed the way to go.  

 

Though it didn't work this way for foreign interest.  When i entered interest in the 'interest/investment income' screen and then the Foreign interest section, it showed my interest twice in my actual tax return.  i thought that the software would not disclose it twice.  So i presumed that i shouldn't enter it in the regular interest income screen and removed it there.  i'm just hoping that is the correct approach. 

 

Any further guidance?

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