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June 3, 2019
Question

Where to enter canadian NR4 form with income code 43 (box14)

  • June 3, 2019
  • 1 reply
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I received a Canadian tax form NR4 with income code 43 which is a lump sum distribution of RRSP. Do i convert that into SSA-1099 or do I go the Form 1116 route for foreign tax credit or something else?

1 reply

June 3, 2019

You can enter the RRSP income as follows:

  1. Click on Federal Taxes at the top of your screen
  2. Click on Wages & Income
  3. Scroll down to Retirement Plans and Social Security
  4. Click on Start next to Canadian Registered Pension Income

Don't forget to translate the income to USD.

To report the Canadian tax paid on your pension:

  1. Enter foreign tax credit in the search box at the top of the page and click the Jump to link
  2. Click 'Yes" you paid foreign taxes
  3. Click through the screens regarding foreign interest and dividends
  4. Click yes that you have reported all your foreign income already in TurboTax
  5. Click that you want to take a credit
  6. Answer question about the Simplified Limitation Election
  7. Choose income type for pension - it will be General category income
  8. Add Canada
  9. Enter description - Canadian RRSP or pension
  10. Enter Income amount that you previously reported under Canadian RRSP income
  11. Enter your taxes you paid on your Canadian pension in the box "Other income"

[Edited 03.27.19 | 3:29 pm]

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June 3, 2019
Maybe it is OK for income ((NR4 box16), but where I can enter tax I paid already to Canada on this income (NR4 box17)? What form? I cannot find the answer anywhere! It's so common situation. Withdraw RRSP; got NR4 with code 43 and just two numbers - income and tax paid; what form I should use for entering those two numbers?