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magrath87
New Member

How do I report income from Canada Pension form NR4? The fields are different from a 1099R.

 
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PatriciaR
New Member

How do I report income from Canada Pension form NR4? The fields are different from a 1099R.

To enter the NR4, treat it as if it is a SSA-1099 and enter it in the Retirement Plans and Social Security section, under ‘Social Security (SSA-1099, RRB-1099)’.

 Then, go to the Deductions and Credits section and select Foreign Taxes under ‘Estimates and Other Taxes Paid’ to enter any foreign tax you already paid to Canada on that income

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


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PatriciaR
New Member

How do I report income from Canada Pension form NR4? The fields are different from a 1099R.

To enter the NR4, treat it as if it is a SSA-1099 and enter it in the Retirement Plans and Social Security section, under ‘Social Security (SSA-1099, RRB-1099)’.

 Then, go to the Deductions and Credits section and select Foreign Taxes under ‘Estimates and Other Taxes Paid’ to enter any foreign tax you already paid to Canada on that income

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


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linduca
New Member

How do I report income from Canada Pension form NR4? The fields are different from a 1099R.

My understanding is that you can either report the foreign taxes paid on schedule A or form 1116 foreign tax credit.   Typically that works more to the taxpayer's advantage...
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