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dagestan
New Member

I have NR4, code 43 -Distribution received is added to my income, refund goes down, but taxes paid in Canada are not being consider. Looks like a double taxation.

I have NR4, code 43 - and had a question answered by TurboTaxKarenJ  - I am following all instructions, but as a result, I don't see any Foreign credit being calculated. Distribution amount I received from Canada is being added to my income, refund goes down, but taxes I paid tin Canada -25% - are not being consider. Looks like this is a double taxation. Is this correct? 

Please help

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1 Reply
PhyllisG
New Member

I have NR4, code 43 -Distribution received is added to my income, refund goes down, but taxes paid in Canada are not being consider. Looks like a double taxation.

You will need to include the Form 1116 in your tax return to claim the Foreign Tax Credit.

To enter the form, do the following while in your return:

  • Type foreign tax credit in the Search box
  • Click the Jump to foreign tax credit link
  • Begin navigating through the prompts to determine if you qualify for the credit

You may be able to claim the Foreign Tax Credit if the following requirements are met:

  • The foreign tax was imposed on you.
  • You paid or accrued the tax.
  • The tax was a legal and actual foreign tax liability.
  • The tax was an income tax (or a tax in lieu of an income tax)



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