Canada T3 and US 1099-DIV

[dmendel]

How do boxes on T3 for a Canadian mutual fund match up to boxes on a US 1099-DIV? For example, what are considered "ordinary dividends" for US tax purposes? (ie, those reported on 1099-DIV box 1a): The amount reported on T3 box 49 or box 50? I assume T3 box 21 ("capital gains") is the equivalent of 1099-DIV box 2a?

[nelsona]

I think you can figure it out.

One thing though, I'm pretty sure Cdn mutual fund distributions that are considered 'cap gains' in canada, are considered ordinary dividends for IRS purposes.

So, all your dividends are ordinary.. and are not considered qualified dividends btw.

[dmendel]

Well, I can't seem to figure it out.

I understand that Canadian mutual fund divs are ordinary and not qualified, but are you saying that amounts in T3 box 21 ("Capital Gains") should be treated as ordinary divs for IRS purposes and NOT capital gains to be reported on Schedule D line 13? So I put amounts in T3 box 21 on 1040 line 9a?

Thanks!

[nelsona]

That is what i said.

The same principle exists for US mutal funds reported on a Cdn tax return.