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February 28, 2023
Question

I am a US resident receiving CPP benefits for the first time this year. How do I do this?

  • February 28, 2023
  • 1 reply
  • 0 views
They did not do a with holding tax on the amount I received, how do I file this?

    1 reply

    March 1, 2023

    You are on the TurboTax Canada site where we deal with Canadian tax issues. For future US questions please go to the US site to post your question. I have found an answer for you that may work:

    The benefit from the Canada Pension Plan is reported under TurboTax Social Security Section.  Here are the steps:

     

    In TurboTax online,

    1.  After sign in, select Pick up where you left off

    2.  In the Search box, at the right upper corner, type in SSA-1099, then Enter 

    3.  Select the 1st choice on the list - Jump to SSA-1099 /

    4.  The program will take you directly to screen, Social Security Benefit-Did you receive any Social Security benefits?  select Yes to continue

     

    This is from the IRS website:

    The taxation of payments received from Canadian retirement programs that are similar to the U.S. Social Security system receives special tax treatment due to an income tax treaty between the United States and Canadian governments. The way this income is taxed depends on the recipient’s residence.

    The special tax treatment applies to payments received from the following Canadian retirement programs: Canada Pension Plan (CPP), Quebec Pension Plan (QPP), and Old Age Security (OAS)

    If the recipient is a resident of the United States, the benefits:

    • are taxable only in the United States,
    • are treated as U.S. social security benefits for U.S. tax purposes, and
    • are reported on Form 1040, U.S. Individual Income Tax Return (or Form 1040A) on the line on which U.S. social security benefits would be reported.

    If the recipient is a U.S. citizen or lawful permanent resident (green card holder) who is a resident of Canada, the benefits are taxable only in Canada.

    Thank you for choosing TurboTax.