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March 9, 2021
Question

I'd like to inquire if a payment from a foreign government (Hong Kong to be specific) should be filed as foreign income as it's unearned and for covid relief purpose?

  • March 9, 2021
  • 1 reply
  • 0 views
The payment is from Hong Kong government called Cash Payout Scheme for your reference. Related news here: https://www.bnnbloomberg.ca/hong-kong-will-hand-out-hk-10-000-cash-to-adults-in-budget-1.1395788 If it should be reported, where and how should I report the income on Turbotax. Thanks!

1 reply

DaveF1006
March 10, 2021

 Yes, you will need to report this but report it as other miscellaneous income.

  1. Go to federal>income and expenses>all income>>show more
  2. Less Common Income> Start
  3. Miscellaneous Income,>start
  4. Other reportable income>start
  5. Next screen asks Any Other Taxable Income>yes
  6. The next screen will allow you to report the income with a brief explanation that tis is a COVID payment from the Hong Cong government.

 

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