US Foreign Tax Credit

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akumar
Posts: 24
Joined: Sat Sep 14, 2013 8:24 pm

US Foreign Tax Credit

Post by akumar »

Hello, Do CPP & EI cdn taxes qualify as foreign tax credits in the US?

I know Social Security paid in the US qualities as a tax in Canada so assume CPP should qualify going the other way?
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akumar
Posts: 24
Joined: Sat Sep 14, 2013 8:24 pm

Re: US Foreign Tax Credit

Post by akumar »

also do you deduct your anticipated refund from the taxes paid?
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nelsona
Posts: 18675
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: US Foreign Tax Credit

Post by nelsona »

CPP and EI both are eligible. You use the taxes as determined on your Cdn return regardless of what was withheld or not during the year. This is the accrual method.
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
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