NR4

[Taichi]

Hi,

I'm trying to file my own US tax for 2007. I'm a Canadian living in the US. I received a NR4 form from a bank in Canada but I'm not sure what to do with it.

I understand I can get a credit on the tax withheld but I'm unsure on the steps:
1. File a 1099-Int for the amount from the Canadian Bank and include the foreign tax?
2. File a credit for the foreign tax?
3. Include the NR4 form in my US tax return?

I'm also using TurboTax :)

Thanks for helping out.

[nelsona]

1099-INT is something a US bank would issue, not you, and not a Cdn bank.

You can get credit, only by using form 1116, for the tax you paid on interst you report on your 1040,

BTW, your bank interst is the least of your worries. What about your Cdn departure return. What about reporting all your other Cdn income on your 1040.