How and where do I report money received from Private Canadian Retirement Plan? Also, the amount is shown in Canadian dollars so do I enter the converted amount received?

[bavila]

I worked in Canada in the 1980s.  I am a US citizen.  I received a notice last year that I had contributed to a retirement plan and that I could get a lump sum distribution.  They withheld Canadian taxes from the distribution.  I can find no place to report the taxes withheld.

[PatriciaR]

Here are the steps to enter your Canadian Pension:

If this is Canadian Registered Pension Income (RRSP or RRIF) TurboTax has entry screens by following this path in TurboTax:

• Go to the Federal Income category.
• Go to the Wages & Income subcategory.
• Find the section labeled Retirement Plans and Social Security.
• Click start or update on the line labeled Canadian Registered Pension Income.

The TurboTax interview will guide you through entering your pension.

To enter any foreign tax you already paid to Canada, follow these steps:

• Select the Deductions & Credits sub-tab (under Federal Taxes, top of program)
• Select Foreign Taxes under Estimates and Other Taxes Paid (may have to click "skip to all tax breaks" to see all deduction choices)

Enter the amounts converted to U.S. dollars as of the transaction date. Please click this link for historical conversion rates:   https://www.fiscal.treasury.gov/fsreports/rpt/treasRptRateExch/treasRptRateExch_home.htm

Click on screenshots below for more detail

For more info specific to the US/Canadian tax treaty, please see http://www.irs.gov/pub/irs-pdf/p597.pdf

[Edited 03/08/2017]

[bavila]

Are you saying that I need to add this to my US Social Security income?  Not to the Canadian Registered Pension Income?  And I just need to add it to my SSA-1099?

[PatriciaR]

Please accept my apologies, I have corrected my answer above to show that you do enter under the Canadian Registered Pension Income.  The second part of my answer remains the same for where you enter foreign taxes paid.

[bavila]

OK, I entered it under the Canadian Registered Pension Income section.  This does not allow me to insert the CDN taxes withheld.  Now I am in the Deductions and Credits part.  It asks if I've already reported all of my foreign income and, if applicable, foreign taxes paid on interest, dividends or Schedules K-1.  I am saying NO since I have not reported the taxes paid.  Correct?  But the next panel then says I need to go back and report the taxes paid.  How do I do that?

[PatriciaR]

Under Deductions & Credits, do you see a section named "Estimates and Other Taxes Paid"? If not, look for a blue link that says "skip to all tax breaks" so you can see a list of all deduction choices.  Foreign Taxes are in the section "Estimates and Other Taxes Paid"