Hello,
I couldn't find any question regarding this topic so apologies if I missed it.
I am originally from Canada and now a US resident for tax purposes (for the whole year). I was wondering how to deal with interest from a Canadian RPP (University pension fund). The interest stays in the pension fund, but I wonder how it should be declared in the US.
Some context: last year my taxes were done by a big firm, which took those interests and basically added them to my revenues, as-is. Is there a provision between Canada and the US to make those non-taxable? If so, what forms should I be looking at?
Thanks!
Laurent
RPP interest as a US tax resident
Moderator: Mark T Serbinski CA CPA
Re: RPP interest as a US tax resident
The interest is not taxable in US year over year. When you take your pension, it will be taxable in Canada, and if you are a US resident at that time, it will be taxable then, with credit given for the Cdn tax.
The firm mishandled this simple issue.
The firm mishandled this simple issue.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
Re: RPP interest as a US tax resident
I was going over last year's return and thought it to be a mistake: thank you for confirming. I will ask them to fix it :)