Search found 2 matches

by iggy
Fri Apr 01, 2011 5:48 pm
Forum: Canada / United States Tax & Accounting
Topic: Tax reporting IRA distribution for Canadian Perm. Resident
Replies: 2
Views: 2201

Thanks Nelsona for the clear and quick reply! :D
by iggy
Thu Mar 31, 2011 6:47 pm
Forum: Canada / United States Tax & Accounting
Topic: Tax reporting IRA distribution for Canadian Perm. Resident
Replies: 2
Views: 2201

Tax reporting IRA distribution for Canadian Perm. Resident

Hi,
I'm a 60 yr. old Canadian permanent resident and US citizen. I took an IRA lump sum distribution in 2010 and would like to know:

1. In which country do I pay the tax on the income?
2. How do I report this event in both countries?
3. How do I apply the resulting tax credit?

Thanks for any help ...