Withdrawal of undeducted RRSPs using T746 or T3012 taxable?

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mackayr
Posts: 74
Joined: Wed Apr 14, 2010 9:37 pm

Withdrawal of undeducted RRSPs using T746 or T3012 taxable?

Post by mackayr »

When withdrawing undeducted RRSP contributions using T746 or T3012, does the US recognize that this is, theoretically, a return of the taxpayer contributions (thereby making the taxable portion, nil)?
nelsona
Posts: 18359
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Yes. The treaty allows IRS to include in income no more than what CRA included in income.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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