topic Taxation in US on Canadian retirement income in Get your taxes done using TurboTax

Taxation in US on Canadian retirement income

ziggy1465 — Wed, 30 Oct 2024 19:47:46 GMT

My wife is a Canadian green card holder living in Canada. She recieves a Canadian Pension Plan (CPP) and Canadian Old Age Security (OAS) in addition to US SS and a US pension. Does her Canadian retirement income qualify for the Foreign Earned Income Exclusion on our US taxes?

Re: Taxation in US on Canadian retirement income

Bsch4477 — Wed, 30 Oct 2024 20:44:31 GMT

Duplicate

Re: Taxation in US on Canadian retirement income

AmitaR — Wed, 30 Oct 2024 20:48:19 GMT

Hello ziggy1465,

The Earned Income Exclusion only applies to Earned Income. Retirement Income is not considered as Earned Income.

You will convert your Canadian Retirement Income to U.S. Dollars when you report it on your U.S. Tax Return. If you paid any tax to Canada on this income, you may get some Foreign Tax Credit.

Thanks for participating in TurboTax's Ask the Expert event today. I hope this information was helpful!

Have an amazing day.

AR (CPA 10+ years)