Maria K. asked
I am a permanent resident in PA, originally from Canada. My father passed away in 2015, and my sister and I received death benefits from his company's pension plan. The original amount was $45,383.45, with $11,345.86 withheld for non-resident tax, resulting in a net amount of $34,037.59. I received a Revenue Canada NR4 Statement for this income. My wife and I are filing jointly for 2015, with her grossing $19,500 and my business having a loss of $800. We currently expect a refund of $7,600 due to having two kids. However, applying the death benefits would result in owing over $1,000. Our tax preparer is unsure whether we need to claim these benefits. Do we need to claim this, and if so, what can we do about the amount of tax taken by the Canadian government? What forms or sections do we need to fill out?
September 9th, 2024
Darius T. answered
Yes, you need to claim the death benefits received from your father's pension plan on your tax retur...
September 9th, 2024
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