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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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4 Replies
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


linduca
Level 1

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...
ahachko
New Member

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

Turbo tax has a slight change in this area for 2021. I think I will create my own 1099-R for 2021 to get the Canada pension in the same income area.

dscherck
New Member

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

I am wondering what you mean by "create your own 1099R?  It certainly seems that putting that income in the Retirement section would be better than treating it like a SS payment as some others suggest.  However, I still can't seem to figure out form 1116.  When my husband was still working in Canada, I did that form all the time.  I think it is more convoluted now.  The US Tax Code is sooooooo combersome.  

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