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- Tue Jun 20, 2023 9:39 am
- Forum: Canada / United States Tax & Accounting
- Topic: Paid back loan owed to me - interest income
- Replies: 7
- Views: 4659
Re: Paid back loan owed to me - interest income
Sorry to hear about your brother's passing. Regarding loan repayment, it's always a good idea to report any interest income on your tax returns. In terms of taxation, it usually follows the general rule of being taxed in Canada first, and then you may be able to claim a foreign tax credit in the US ...