Foreign pension income - U S
To enter the amount of your U.S. pension income, please follow
the steps below:
1. On the left-side menu of
the "Interview tab", please select
"Interview setup".
2. On the page that appears to the right, go to the
"Investment income and expenses" group and check
mark the "Foreign income or foreign property
(T1135)" and click on "Next" at the
bottom of the page.
3. Return to the left-side menu of
the "Interview tab" and select
"Foreign income & property".
4. On the right-hand side of the screen, choose "Foreign
pension income (includes U.S. social security
benefits)".
5. On the page that appears, on the line ''Country from
where you received the foreign income. If the country signed a tax
treaty with Canada, a deduction under 20(11) will not be
allowed", enter ''United
States (tax treaty with Canada)''. Then, under
"Description of the source of income", enter
''Pension'' as well as the "Exchange rate
to apply".
6. Then, go to the line "Type of foreign pension
income", and in the drop-down menu, choose the option that
reflects your tax situation;
- According to the tax treaty between Canada and the United
States, you can claim a deduction of 15 % of social security
benefits from the United States, including bonuses paid to US
Medicare. In this case, choose "United States social
security benefits (15 %)".
- If you were a resident of Canada and have received
benefits from U.S. Social Security continuously from the period
before January 1st, 1996, then, from the drop-down menu,
choose "United States social security benefits (50
%)".
The deductible amount will be entered by the program on line 256
of the Federal return and on line 297 of the Quebec return, and
code 12 will be entered on Quebec line 296.
For more details, please refer to the CRA's website via the
following link:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-115-other-pensions-superannuation.html
ID: 20191128163105MAX.xml
Webpage: KPA360-20191128163105MA.htm
