Question

Does the gross income in form 1116 include Canadian CPP or OAS

Forum|Forum|4 years ago
March 11, 2022
1 reply
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Employee

From TT's on demand guidance.

Gross income from all sources is GROSS income from ALL sources, both foreign and U.S. Gross income means income without taking into account any deductions or losses.

T

Treetops10Author

I was referring to gross foreign income on the first line of form 1116 Foreign tax credit. and whether that includes CPP and OAS from Canada.

R

rogge1722

Employee

Yes, that would include Canadian pension funds. It might be a good idea to check the US/Canada tax treaty. It may contain special tax breaks for pensions.