Search found 3 matches
- Sat Mar 19, 2022 1:00 am
- Forum: Canada / United States Tax & Accounting
- Topic: Unused Foreign Tax Credit
- Replies: 2
- Views: 1502
Re: Unused Foreign Tax Credit
Got one more question. Is there any way I can see the breakdown of unused foreign tax credit from previous years?
- Sat Mar 19, 2022 12:45 am
- Forum: Canada / United States Tax & Accounting
- Topic: Unused Foreign Tax Credit
- Replies: 2
- Views: 1502
Unused Foreign Tax Credit
Hi, I have unused foreign tax credit from previous years periodic RRIF withdrawals categorized as 'General category income'. In 2021, I paid foreign tax for dividend income, which I think should be categorized as 'Passive category income'. In this case, can I use my unused foreign tax credit from 'G...
- Wed Mar 10, 2021 1:54 am
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting RRIF withdraw in US income tax
- Replies: 1
- Views: 2825
Reporting RRIF withdraw in US income tax
Hi, I'm currently living in US and have multiple RRIF accounts in Canada from which I'm taking ~10% withdrawals each year to pay 15% tax to CRA. For each withdrawal, I calculate taxable portion using the following formula: a) non-taxable amount from the previous year b) FMV of the account just befor...