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Canadian citizen living in Canada with US income

I am a Canadian citizen living in Canada and received taxable interest from a US life insurance trust.  The bank handling the trust withheld some of the trust dollars, so I need to file a US return to claim that money.  How do I do that from Canada?

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2 Replies
pk
Level 15
Level 15

Canadian citizen living in Canada with US income

@dedudette , the withholding agent  ( the bank I assume ) , would have issued you a 1042-S showing the earned  income and the taxes withheld.  You need a Tax ID  ( SSN or ITIN ) and file a return on form 1040-NR  ( not supported by TurboTax).

The other way is to ignore the US filing, pay tax on this income in Canada and claim Canadian tax credit for foreign taxes paid ( to the USA ).

I am saying this without knowing the full story / antecedents of the case.

 

Is there more I can do for you ?

Nan61
New Member

Canadian citizen living in Canada with US income

Thanks, pk.  I am posting for a friend and expect to see copies of her tax forms soon. That will help figure out exactly what she needs to do.  I appreciate your time.

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