Search found 2 matches
- Mon Apr 06, 2009 9:19 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Protocol 5 Implications
- Replies: 3
- Views: 2602
Re: Protocol 5
I realize I must report all income on both US and Can tax returns. My first question is why is 2/3 of my US-based dividend income in box 3 on the 1099-DIV which is labeled " nontaxable distributions"? I was under the impression that all dividend income is taxable. Second, under the column ...
- Mon Apr 06, 2009 3:34 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Protocol 5 Implications
- Replies: 3
- Views: 2602
Protocol 5 Implications
Protocol 5 I am a US citizen/Can.resident and file taxes in both countries. This is the 1st year I have received 1099-DIV and 1099- INT forms in addition to the Can T5 forms. Is this because of Protocol 5? I have always claimed ALL dividend income as income on line 9. The 1099-DIV form has about 1/3...