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April 28, 2023
Question

I get the following warning: "Please verify that you are entitled to claim a 20(11) or 20(12) deduction" I'm not sure what this is in reference to. Can anyone help?

  • April 28, 2023
  • 1 reply
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    1 reply

    jakereelglass
    May 1, 2023

    Hi there! 

    I believe I can help. Those deductions are both related to Foreign Non-Business Income Tax and Foreign Tax Credit. You can read more about these here: https://help.wealthsimple.com/hc/en-ca/articles/4409704611099#:~:text=When%20you've%20paid%20foreign,amount%20of%20foreign%20tax%20paid). 

     

    And here: https://www.taxtips.ca/filing/foreign-tax-credit-non-business-income.htm#:~:text=20(11)%20reduces%20the%20amount,this%20deduction%20does%20not%20apply. So you can make sure that they apply to your situation.