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thanks, and since it is accrued, is it best to just leave the date box empty?

true, it isn't a tax, but government income. The whole amount is taxable in Canada. However, I read on here that after I report it as other income on the 1040, I can take a foreign tax credit on it since I'm already paying tax on it in Canada. This would be form 1116, would it not?

thanks Frank. I was thinking accrued, but wanted a second opinion. Do you just leave the date paid part blank then? I've read some of your other posts and I was wondering what exchange rate web page you ended up using to go from Canadian to US dollars when filling out form 1116. thanks, Rachel

Hi, I was wondering if the UCCB is considered a paid tax or accrued tax in terms of filling out the form 1116 Foreign tax credit. I am putting it under general income. They ask for a date tax paid, but really I only pay tax on it once a year when doing my Canadian tax return, so what would I put the...

One more question Nelsona, does it matter when considering RESP reporting requirements that when I submit my US tax return 1040, that I take an exemption for my husband? I file married separate and my Canadian citizen husband does have an ITIN in order for me to do that. We've never filed jointly an...

In regard to the RESP again, I am confused when I read the language used in the instructions for the 3520 and they give the definition of a "US beneficiary". It makes me wonder if a US citizen beneficiary really does have to file this and 3520A? Another area in the instrucitons says "...

I am in the exact same position as Frankd1 with regard to the beneficiary of the RESP being a dual citizen child and the owner of the RESP being my Canadian citizen spouse. Question: Does the child beneficiary need to fill out any paperwork prior to the funds being withdrawn, example being an FBAR o...