T2209 - Federal Foreign Tax Credits
You 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:
http://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-405-federal-foreign-tax-credit.html
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
