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NR4 with the income code 43

I have a NR4 received from Canada for withdrawing my RRSP.

When I enter my NR4 information, it asks 'Any Distributions From This Plan?'.

Can anyone tell me what number I'm supposed to put as 'Total Distribution' and 'Taxable Part of Distribution'?

Do I enter the gross Income or the amount after deducting 'Non Resident Tax withheld'?

 

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1 Reply
MarilynG
Expert Alumni

NR4 with the income code 43

Enter the Gross Income amount for both 'Total Distribution' and 'Taxable Distribution'.

 

Then you can claim a Foreign Tax Credit for the tax you paid to Canada. 

 

Under Deductions & Credits, scroll down to 'Estimates & Other Taxes Paid' and choose 'Foreign Taxes'.

 

At 'Tell us About your Foreign Taxes' choose 'none of these apply'.  Continue, and choose 'Take a Credit'.

 

Continue, and choose 'Passive Income' for Income Type and choose Canada as Country.

 

Enter description 'Canadian Pension' and the amount of your Gross Distribution (you won't be taxed twice; this is to link the income to the Foreign Tax amount). 

 

Continue to screen 'Foreign Taxes Paid - Canada' where you can enter the amount of Canadian Tax you paid in the 'Foreign Taxes on Other Income' field.   For date, you can enter 12/31/2021 (or the date you actually received it; it won't make a difference). 

 

Click this link for more info/screenshots to help you on Reporting Canadian Pension and Foreign Tax Paid. 

 

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