Tax reporting IRA distribution for Canadian Perm. Resident

[iggy]

Hi,
I'm a 60 yr. old Canadian permanent resident and US citizen. I took an IRA lump sum distribution in 2010 and would like to know:

1. In which country do I pay the tax on the income?
2. How do I report this event in both countries?
3. How do I apply the resulting tax credit?

Thanks for any help in this matter.

[nelsona]

1. US and canada. US first.
2. IRA is reported on the IRA income line on 1040. Reported on the pension line on T1.
3. Only the Cdn return, the prorated tax from your 1040 applicable to that income, on the foreign tax credit lines of the Cdn and prov return.

[iggy]

Thanks Nelsona for the clear and quick reply! :D