What line does Canada pension plan go on for a U.S. income tax return?

Answer People collecting income from Canadian pension plans who are living in the U.S. as citizens may be required to include that income on a Form 1040 tax return on lines 16a and 16b. However, that inco... Read More »

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Do you have to pay income tax on your pension?

Income from a pension plan is taxable. The IRS defines pension income as fully taxable or partially taxable. If accurate taxes were withheld at the time income was placed into the pension plan, the... Read More »

Spousal Pension Benefits in Canada?

In Canada, almost every worker in the public and private sectors is required to contribute to the Canada Pension Plan (CPP), and those participants are eligible for pension payments after retiremen... Read More »

What Are the Benefits of Pension Income Splitting?

Pension benefits allow you to retire from your company and have your retirement funded by your employer, instead of your personal savings. You may be offered the opportunity to split pension benefi... Read More »

Can you apply for unemployment and disability pension in Canada?