Calculating Foreign Tax Paid on T-2209

[pencileveryone]

I am US GC Holder and a Canadian Citizen. I moved back to Canada last year and did an internal transfer within my company, so I am on Cdn Payroll now. However, I still have stocks vesting over the past year which are still mostly US-sourced. So I have a W2 from my employer for the US sourced income.

I want to understand how to calculate the Foreign Tax Paid specifically with respect to SS/Medicare taxes. For simplicity, let's say I moved end of June, and exactly half of my W2 income is reported on my Cdn return.

W2 Income - $100,000
Proportion of this W2 income which is taxable in Canada - $50000
SS Tax Box 4 on W2: $5000
Medicare Tax Box 5 on W2: $2000

And lets say I figured out that Federal tax allocated to this $100K income is $25000. (proportion of "Total Tax" (line 24 on 1040) based on $100K/total reportable income on 1040))

Is it correct to calculate the taxes paid on my T2209 below?

Federal Taxes Paid = $50000 / $100000 * $25000
SS Tax Paid = $50000/$100000 * $5000
Medicare Tax Paid = $50000/$10000 * $2000

Then I add Fed Taxes + SS TAx + Medicare Tax, and convert it to Cdn $. Please assume the SS/Medicare tax witheld is correct, and also this is my only W2.

Thanks!

[nelsona]

Sounds right. Technically, since it is possible to pay uneven amounts of FICA on each pay check/vesting, you are supposed to include the difference between the FICA on your last pay check received while resident of US vs your total FICA.

[pencileveryone]

Got it. Makes sense. Thanks Nelson!

[maple.taoist]

pencileveryone wrote:
> And lets say I figured out that Federal tax allocated to this $100K income
> is $25000. (proportion of "Total Tax" (line 24 on 1040) based on
> $100K/total reportable income on 1040))

Hi pencileveryone and nelsona -
I have a question here - where on 1040 should this "total reporatble income on 1040" be? Would it be line 9 "total income" or line 11 "adjusted gross income" or even line 15 "Taxable income"?
A more specific question - I have some deductions on my 1040 on line 8 that is only deductible in the US. Would I need to add that part back when calculating this for my Canadian returns (or is this a silly question? )