3

I am a Canadian resident who made US income, and contributed to a 401k. I know I must include my 401k contributions on my foreign income, but what about my employer's contributions?

Also, what are the ways that I can get these amounts deducted from my Canadian income tax? I have plenty of RRSP contributions left to make.

1 Answer 1

1

Canadian residents working in the US and contributing to a 401(k) do need to include their own 401(k) contributions in their reported income. However, since 2009 they can deduct those contributions on line 209(?). A treaty revison made this possible.

1
  • Welcome to Personal Finance & Money. Your answer addresses the half of the question about employee contributions; can you also address the issue of employer contributions?
    – dg99
    Commented Jul 1, 2015 at 20:22

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .