I am preparing 2009 return. Regarding T3 Box 25 Can you tell me where this should go on the Schedule 4


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Audit Avoider,

Here is how the Foreign Non-business Income is handled in ProFile:

1.  Enter T3 Box 25 data "Foreign non-business income" on the T3 slip screen in ProFile.
2.  Enter T3 Box 34 data "Foreign income tax paid - investment or other" on the T3 slip screen in ProFile.
3.  Enter the "Name of foreign country" on the T3 slip screen in ProFile.
4.  Foreign non-business income from box 25 on T3 slip will transfer to line 121 on T1 General.
5.  Non-business income tax paid to a foreign country will transfer to form T2209 where it will be used to calculate the Federal non-business foreign tax credit to offset Canadian tax liability .
6.  Any remaining amount of unused taxes paid in the foreign country (after federal non-business tax credit) are used up to offset the provicial tax liability as Provincial or Territorial foreign tax credit on form T2036.

In specific, T3 box 25 information will show up in "section II - Interest and other investment income" - "Income from foreign sources" on schedule S4.

Hope the above has answered your question.

Thank you.
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