T2209 - Federal Foreign Tax CreditsYou may be entitled to this credit if you paid foreign tax on income that you have earned outside of Canada and reported on your Canadian tax return.
In order to claim this foreign tax credit, please follow the steps below:
1. Return to the "Left side menu on the Interview tab", select "Interview setup".
2. On the right-hand side of the screen, go to the "Investment income and expenses" group, check the boxes for "Foreign income or foreign property (T1135)" and click "Next" at the bottom of the page.
3- Return to the "Left side menu on the Interview tab" and select the topic "Foreign income & property".
4- On the screen to your right, choose the applicable type of foreign income.
Regardless of the type of foreign income, you must enter:
- the foreign income, and
- the foreign tax paid.5 - In the field for "Limit of foreign tax credit and deduction (T2209)", you can choose one of three options in the drop-down menu to your right (if you do not choose any of the options, the program will implicitly choose the appropriate form).
The program will generate federal Form T2209 and, as applicable, Form T2036 "Provincial or Territorial Foreign Tax Credit". Furthermore, for Quebec residents, the program will complete Section A of Schedule E, "Tax Adjustments and Credits", and will generate Form TP-772-V.
For more information on foreign tax, please consult the following links:
For the CRA:
To Revenu Québec:
http://www.revenuquebec.ca/en/online-services/forms-and-publications/current-details/tp-772-v/
ID: 20121217110008DE.xml
Webpage: KPA360-20121217110008DE.htm