I found the following calculation under "allocation of foreign taxes" on Pub 514:
General category income
1) wages/total income x deductions = expenses allocable to wages
--> is this line 101/line 150 x line 233 from my T1?
2) subtract your total wages by number generated in (1) = net wages ...
Search found 2 matches
- Wed Mar 15, 2017 8:36 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to determine part 2 of form 1116
- Replies: 2
- Views: 1787
- Tue Mar 14, 2017 11:57 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to determine part 2 of form 1116
- Replies: 2
- Views: 1787
How to determine part 2 of form 1116
I am a Canadian citizen, living and working in Canada so have T1. However I have dual citizenship, so also need to file US taxes.
I am trying to fill out form 1116 for my general and passive income and am stuck trying to figure out how to determine the foreign taxes paid on general income and ...
I am trying to fill out form 1116 for my general and passive income and am stuck trying to figure out how to determine the foreign taxes paid on general income and ...