Credit for Canadian taxes paid on a Canadian pension
Moderator: Mark T Serbinski CA CPA
Credit for Canadian taxes paid on a Canadian pension
How do you claim credit for Canadian taxes paid on a Canadian pension for a US citizen residing in Canada?
Form 1116, pensions are considered general limitation income.
You combine all your foreign gen limit income, and use the proportion of this income vs. your total income on your Cdn return to determine the amount of Cdn tax that was atributable to this income as use this on your 1116.
the form will then calculate your credit.
You combine all your foreign gen limit income, and use the proportion of this income vs. your total income on your Cdn return to determine the amount of Cdn tax that was atributable to this income as use this on your 1116.
the form will then calculate your credit.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best