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If we end up owing money to the IRS on the RRSP withdrawals even after accounting for Canadian tax, can we use our excess carryover foreign tax credits from past years to offset?
Yes, that is why you carried forward those amounts. RRSPs are genral limitation income.
I doubt that you will use up all the Cdn tax form 2016 to be able to tap the carryforward, but who knows.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing