Serbinski Accounting Firms

I know the amounts are entered on lines 16a and 16b - if anyone reads this thread, please be certain you're choosing the right tax treatment and lines. Thanks!

The above advice from TaxACT seems iffy. If entered as if the amounts are SS benefits, I get a huge refund. When I enter them via the FEC worksheet, I owe taxes, even with the 1116 completed.

I received a response from TaxACT. Please see below for those who have questions regarding Canadian RRSP tax treatment for 2014.

"Dear TaxACT® Customer:

Starting in 2014, taxpayers with Canadian registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs ...

That's a bummer, because by entering the smaller amount, the taxable amount from 16b., I owe more taxes.

Thanks, that did it, for anyone else who may be wondering. Using Form FEC, the amounts properly show up on Lines 16a and 16b.

Separately, I think you just caught an error I made when completing Form 1116. On Form 1116, I entered the gross amount in Part I, Column A, as general income. It sounds ...

Perhaps via the "Foreign Employer Compensation and Pensions" - Form FEC. I'm trying it.

Might anyone know this? I e-mailed TaxACT, and its phone line has been busy all day.

I have a 2014 Canadian RRSP (income code 43) distribution to enter into my tax software, TaxACT. I know the gross distribution goes on Form 1040, Line 16a, and I have calculated my taxable amount (gain after my ...