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If you do not pay taxes to Canada on that interest income, you do not qualify for a foreign tax credit or deduction. The foreign tax credit is allowed ONLY IF you pay taxes to both the US and Canada. Based on your information, you would not have a foreign tax credit carryover on this. If you have any foreign tax credit carryover from the previous year, you can use it to reduce your income this year and if you have any unused amounts, you can continue to carry over to the future years. You just can't add this year's to the total carryover.
If you are a US citizen or resident, you are required to report worldwide income including the Canadian interest income. You would enter as if you receive a Form 1099-int. Here are the steps (desktop):
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