Turbo tax
Moderator: Mark T Serbinski CA CPA
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Turbo tax
I’ve tried to see if this was answered and cannot find. Does TurboTax software work for claiming RRIF distributions, cpp? Will the form 1116 be part of it? And if yes, where do I enter this info on the software? Or should I bite the bullet and pay for more services?
Re: Turbo tax
Turbotax works well for RRIF, CPP/OAS distributions. The RRIF distributions go under Retirement Plans and Social Security --> Canadian Registered Pension Plans. CPP and OAS distributions go under Retirement Plans and Social Security --> Social Security.
Form 1116 is trickier. You must put the taxes withheld in the RRIF into the Foreign Taxes section of Estimates and other taxes paid. Use the General category Income.
Form 1116 is trickier. You must put the taxes withheld in the RRIF into the Foreign Taxes section of Estimates and other taxes paid. Use the General category Income.