Serbinski Accounting Firms

Since you and your sister are non spouse beneficiaries of a RRIF, the RRIF will be closed, assets transferred to your names and you have to pay the tax as income.

This article will clarify the rules
https://www.moneysense.ca/save/taxes/taxes-on-inherited-rrif-accounts/

Since she's now on a lower ...

On form 1040 when reporting Canadian Sourced Income,

RRIF withdrawals with 15% withholding Tax can be entered as Other/Misc Income
CPP and OAS with zero withholding can be classified as Social Security Income
Municipal Pension Income with 15% withholding Tax - where does this go?

Thanks

Thank you.

How do I classify income type on Form 1116 Foreign Tax Credits when receiving Canadian sourced income from the following:

RRIF withdrawals with 15% withholding Tax
CPP and OAS with zero withholding
Municipal Pension Income with 15% withholding Tax

Thanks

The WEP has been repealed. HR 82 was passed by Senate 76-20.

My spouse lived in Canada for 6 years before we moved to the US. She's a dual US/Canada citizen, worked in the US for more than 20 years and has enough credits to qualify for social security. I am trying to understand how she would qualify for reduced OAS benefit per the US/Canada totalization ...