Taxpayer (US resident) is a 50% beneficiary of an estate based in Canada. Taxpayer received Canada form NR4 with code 11 for estate and trust income. There is an amount in box 16, gross income and an amount in box 17, non-resident tax withheld. Taxpayer was told by Canandian financial advisor that the income is capital gains, not interest income. After converting the amounts to US dollars, where do I enter them in ProSeries? Am I correct that this client does not meet the reporting requirements for FBAR based on the fact that the client does not have signature authority over the account and the client does not have a greater than 50% beneficiary interest in the account?
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