Foreign Tax Credit Form - Review and common questions

Right-click on the form to see which slips the amounts are originating from:

Understanding the Flow

1. The user enters Slips into ProFile.
2. The user navigates to the FTC form and enters the country.
3. The user reviews the CRA FTC forms (T2209/T2036); they are already automatically populated, based on the FTC form in step 2 above.
4. The credit flows automatically to the S1 (federal)/[provincial]428 form).

Frequently asked questions

Why aren't the amounts on the FTC form calculating?

Check the FTC form and slip and ensure that the country is selected.

Why doesn't my T2209 form match the FTC form?

As there can be multiple FTC forms, there can also be multiple T2209 forms. Review the T2209S form, which is the summary of all T2209 forms.

I pay taxes in the US. Am I being taxed twice?

Once you complete the sections for foreign income, foreign taxes paid, and country on FTC form, it provides you with the federal and provincial foreign tax credit based on the calculations on the T2209 and T2036 forms.

Review the CRA’s support articles to learn more about this credit and how it works:

• Line 40500 - Federal Foreign Tax Credit
• T2209 Federal Foreign Tax Credits

What is this warning regarding the 20(11) deduction?

Tax treaties between Canada and other countries vary, and ProFile does not track them. ProFile provides the 15% calculation, but users must review Subsection 20(11) and tax treaties for the country entered. If correct, it is safe for the user to sign off the message or adjust the amount as necessary.

Review the CRA’s support article to learn more about this credit and how it works.

CRA resources

Review the CRA’s support articles to learn more about tax-related questions:

• Foreign Income Taxes as a Deduction from Income
• Foreign Non-Business Income Tax and Foreign Tax Credit (FTC) Line 40500