I had an accountant prep my taxes last year, which included a fairly large income from Canada - about $30000 including fellowship and RRIF income). I've just noticed that on my 1116 form, the accountant has does something funny with the Canadian income. They have in column A listed the total in Canadian dollars, and in the "total" column listed an amount slightly larger (by about $100) than the amount listed in column A, with "SEE STMT" in that box. I don't have the statement.
Does anybody have any idea what they've done here? The currency conversion they used for the rest of my return would have meant the US$ amount would be smaller than the total in Canadian dollars (this was tax year 2012).
foreign tax credit and currency conversion
Moderator: Mark T Serbinski CA CPA