US Foreign Tax Credit Applied to Spouse's RPP Withdrawal

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Jojo
Posts: 12
Joined: Wed May 29, 2019 11:20 am

US Foreign Tax Credit Applied to Spouse's RPP Withdrawal

Post by Jojo »

Scenario:
Spouse A withdraws $50k from RRSP, US taxable amount $20k. CAN withholding @25%
Spouse B withdraws $30k from RPP, US taxable amount $20k. CAN withholding @15%

Assuming they are filing jointly in US, can the excess foreign tax credits from Spouse A's RRSP withdrawal be used to offset US tax for Spouse B's RPP withdrawal?
Jojo
Posts: 12
Joined: Wed May 29, 2019 11:20 am

Re: US Foreign Tax Credit Applied to Spouse's RPP Withdrawal

Post by Jojo »

Typo: Spouse B's RPP withdrawal US taxable amount is $30k, not $20k.
ND
Posts: 291
Joined: Thu Feb 21, 2013 5:28 pm

Re: US Foreign Tax Credit Applied to Spouse's RPP Withdrawal

Post by ND »

If you file a joint return, you can claim the credit based on the total of any foreign income tax paid or accrued by you and your spouse.
https://www.irs.gov/individuals/interna ... tax-credit
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