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Reporting Canadian RRSP Withdrawl on US Taxes
I am a US citizen and last year I had a withdraw from my Canadian RRSP. When I go to enter it under Wages and income I am not sure what the difference is between Total Distribution and Taxable Part of Distribution. For an example if my total withdraw was $10000 and the Canadian government withheld $2500 (25%). What would I enter in turbotax for each of the distribution entries?
Also should I also be filling for a foreign tax credit on my taxes this year?
Any help will be greatly appreciated in understanding this tax entry.
‎February 3, 2022
2:07 PM