I am a dual US - Cdn citizen living in the US who is retired. I withdrew from a RRIF for the first time in 2023 and this was my sole income. I received a lump sum of $135,000 CDN with 25% withholding of $33,750 CDN. NR4 has code 26. Do I create a 1099R? Will my gross and taxable amount be the same, converted in US $ or is my taxable amount less withholding taxes? I was anticipating a refund, but my calculations show I owe close to $7K. What am I doing wrong? Married filing jointly.
