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Question

Declaring interests from investments in canada

Forum|Forum|1 year ago
April 12, 2025
1 reply
0 views

Canadian citizen, i live and work in USA, Massachusetts.

While filing my 2024 US taxes, how do i report interests received from investments redeemed in my Canadian bank?

thanks!

Not A Product Question

It depends. You can include both the interest income and the foreign taxes paid on this interest income under the 1099-INT section. Just make sure that you include this amount in USD. Also, if you paid any foreign taxes on this interest income, you will be able to take a Foreign Tax Credit for taxes paid on income that is also taxed in the US.

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