Canada foreign tax credit
Moderator: Mark T Serbinski CA CPA
Canada foreign tax credit
When filing Canadian tax return as a resident, should we include all taxes paid in the US (federal, state, social security and medicare tax) as a foreign tax credit?
Re: Canada foreign tax credit
Well, you would only include US taxes on US-based income. Any US taxes paid on Cdn-source income would need to be handled on your US return, if applicable.
And it is Fed and state taxes as calculated on your tax returns (not simply the tax withheld) plus the FICA that was withheld.
And it is Fed and state taxes as calculated on your tax returns (not simply the tax withheld) plus the FICA that was withheld.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing 