Search found 3 matches

by Sarah1
Sun Sep 27, 2020 8:44 pm
Forum: Canada / United States Tax & Accounting
Topic: Foreign Tax Credit Confusion
Replies: 4
Views: 1512

Re: Foreign Tax Credit Confusion

Ok, thank you very much.

Yes, I'm reporting worldwide income in Canada.

Thanks for clarifying this. I guess I was just over thinking it because we both had foreign tax credits to claim on our joint 1040 and not just me.

Have a good night
by Sarah1
Fri Sep 25, 2020 10:28 am
Forum: Canada / United States Tax & Accounting
Topic: Foreign Tax Credit Confusion
Replies: 4
Views: 1512

Re: Foreign Tax Credit Confusion

I'm trying to figure out how much foreign tax I can claim on my Canadian resident return. I've taken my W2 divided by our total adjusted gross income to determine my proportion of our total income on our joint 1040. I'm just not sure what I multiply this number by. Do I multiply it by the total tax ...
by Sarah1
Wed Sep 23, 2020 2:50 pm
Forum: Canada / United States Tax & Accounting
Topic: Foreign Tax Credit Confusion
Replies: 4
Views: 1512

Foreign Tax Credit Confusion

Hi Nelsona, I’m a dual Canadian/US citizen and former resident of Canada. I’m now living in the US with my husband who is a US citizen and US resident. I’ve been straddling the border and filing as a resident of Canada for a few years (we plan to move to Canada very soon). I know, this is not recomm...