Hi. I'm currently receiving disability benefits from both Canada and the U.S. I'm a Canadian citizen and a U.S. permanent resident, living in the U.S.
I've read repeatedly that my Canadian CPP benefits should be entered on lines 20a/b on form 1040, but my accountant claims it should be reported as other income (line 21) or under pensions and annuities (line 16).
Which is correct?
Thanks.
Dirk
taxation of CPP benefits for a U.S. resident
Moderator: Mark T Serbinski CA CPA
Your CPP income is considered exactly like SS payments (even the 15% exclusion).
Considering that your accountant can't even make up his mind which wrong answer to tell you I wouldn't worry about what he says.
Considering that your accountant can't even make up his mind which wrong answer to tell you I wouldn't worry about what he says.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing