- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Thanks. I'll check into that. But I seem to doubt Canada Revenue would go along with allowing the full gross to go to the US and forgoing the withholding on pension funds that were funded with before tax contributions. They will want the tax, same as they would if the recipient were Canadian and still a Canada resident paying the tax on gross. Hmmmmm. I think Canada will get the tax, my wife will get the net and the US will give a credit for the tax withheld. On my return I filed it as a 1099R, reported the gross amount is USD, the withholding in USD. It tallied like a regular 1099. I would have reported the gross on a 1099 and then filed a Form 1116 to get a Foreign Tax Credit, but that seemed awkward it reporting the gross and withheld on separate forms. (The Foreign Tax Credit could actually be more beneficial to me as it would reduce the tax liability more than reporting withholding the 1099.) Bottom line I believe TurboTax should be more helpful here...