One more F1116 question. Both the general category and passive category Forms 1116 require total tax paid or accrued in Part II. Should the tax paid in these two Forms 1116 (general and passive) add up to the total tax paid/accued (Canadian income tax + EI + CPP) or am I miss-understanding the form?
Thanks again!
Total tax paid for General Category and Passive F1116
Moderator: Mark T Serbinski CA CPA
Yes, unless you reported some US income on your Cdn return, in whjch case the pertion taht is attributed to that income (prorated) can nnot be used as a foreign tax.
You should always use the accrued method, ie, the amount calculated onyour Cdn return.
You should always use the accrued method, ie, the amount calculated onyour Cdn return.
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