Search found 3 matches

by treetops10
Fri Feb 08, 2019 7:47 pm
Forum: Canada / United States Tax & Accounting
Topic: Pension/RRIF Passive on form 1116?
Replies: 13
Views: 8345

Re: Pension/RRIF Passive on form 1116?

Yes, I can see that my annuity is a pension as that is in fact where the monies originated....a bankruptcy, an underfunded pension plan with final proceeds used to buy pensioners annuities. (read Nortel Networks if that rings a bell). It is not clear why my investment portfolio income could be consi...
by treetops10
Fri Feb 08, 2019 5:30 pm
Forum: Canada / United States Tax & Accounting
Topic: Pension/RRIF Passive on form 1116?
Replies: 13
Views: 8345

Re: Pension/RRIF Passive on form 1116?

Thank you very much! You just saved me $1000. I'm in the US and wasn't aware I could add CPP/OAS to Gen Limit category on top of my Canadian pension income. Now part 2 of the question: can I add my Canadian investment income to Gen Limit also or, is this income in the Passive category? I have cap ga...
by treetops10
Sat Feb 02, 2019 3:57 pm
Forum: Canada / United States Tax & Accounting
Topic: Pension/RRIF Passive on form 1116?
Replies: 13
Views: 8345

Re: Pension/RRIF Passive on form 1116?

An old thread but I have a question on an answer you wrote..specifically "ou are the one asking the question if you should change from Passive to general. I would. If you ever move to US, you will certainly want to, because of the favorable treatment of CPP/OAS, which are also gen limit." Why would ...