DPSP and TurboTax

Confused · Post by **Confused** » Fri Mar 30, 2012 1:05 pm

I want to input the Canadian DPSP amount that I got from the withdrawal last January (100% taxable) in TurboTax. How do I get it to show up on line 16a of the 1040 form since Canada doesn't issue a 1099-R.
Thanks in advance for your help.

Confused · Post by **Confused** » Fri Mar 30, 2012 1:42 pm

nelsona,
TurboTax is saying to file a form 8891 for my DPSP, and I agree with you, I think it doesn't go there. I deleted the form 8891 that I previously completed for it, but now the DPSP doesn't show up properly on the 1040 like I mentionned earlier.
How do I go about it with Turbotax?

Thanks again.

nelsona · Post by **nelsona** » Fri Mar 30, 2012 1:59 pm

Turbotax is saying?!? that is worse than asking IRS.

You fill in a "fake" 1099-R with the whole value in USD (no tax). Then you claim it on 1116 along with the tax.

Confused · Post by **Confused** » Fri Mar 30, 2012 2:32 pm

I understand. Thanks!