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How to report the values on Canada T3 Statement of Trust Income into US tax return?

Received a Canada T3 Statement of Trust income with values in the following boxes below.  How to map these values in the US tax return?  Understood that each box needs to be converted from CDN$ to USD$, but not sure which box maps to which section of the US tax return. 

 

Box 49   (Actual amount of eligible dividends)

Box 50  (Taxable amount of eligible dividends)

Box 51 (Dividend tax credit for eligible dividends)

Box 21 (Capital Gains)

Box 25 ( Foreign Non business income)

Box 34 (Foreign Non business income tax paid)

 

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2 Replies
tilburn
Returning Member

How to report the values on Canada T3 Statement of Trust Income into US tax return?

Just pinging to generate interest on this question.  I am in the exact same position with a CDN T3 form to input into my US return.

 

According to the T3 instructions, "... the amounts you have to report as income are the amounts shown in boxes 32 and 50..." which is straight forward for a CDN return, but as OP pointed out, how does that map to the US return?

 

I'm getting ready to take those box values, convert to US $ and put them into ala 1099-xx income.

 

Any insight into this appreciated.  The in-line app TT help doesn't reveal any info in this regard, relating to this T3 form.

 

Thanks

 

 

RobertB4444
Expert Alumni

How to report the values on Canada T3 Statement of Trust Income into US tax return?

You'll enter the T3 as though you had a 1099-DIV.

 

Box 49 is box 1a on the 1099-DIV

 

Box 50 is box 1b on the 1099-DIV

 

Box 21 is box 2a on the 1099-DIV

 

Box 34 is box 7 on the 1099-DIV if the foreign country is NOT the US.

 

Box 25 is the amount of foreign income you earned.  You'll enter that when the system asks.  If it is not the US.

 

@tilburn @kwt89 

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