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My client received a 2021 NR4 from Canada for a movie he filmed in 2019. How do I handle that?

joggergirl123
Level 3
 
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4 Comments 4
sjrcpa
Level 15

It's taxable income.


Ex-AllStar
IRonMaN
Level 15

Make sure you convert from that Monopoly money they use in Canada to US funds.  You should be able to get that from your client --------- you don't want to have to learn how to speak Canadian to call them about the tax document - eh.


Slava Ukraini!
Terry53029
Level 14
Level 14

Report on line 1 by clicking on the dots to the left of line one box. a new box will pop up, then you click on the magnifying glass, then scroll to line 8B foreign source income. Before converting from Canada to US there is a box indicating what currency the form is reporting, And don't forget the 1116 

sjrcpa
Level 15

The Canadian tax might not be creditable. Canadian tax return needs to be filed and he might get a refund.

We don't know the dollars.

Probably small, unless the client is a star.


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