NR4 slips are typically issued to non-residents of Canada. However, if you're a Canadian resident and have received an NR4 slip, here's how to report it:
- Determine the income type:
- Look at the income code in box 14 of your NR4 slip
- This code indicates what type of income you've received (e.g., dividends, interest)
- Report the income:
- Add the appropriate income section to your profile based on the income type
- Enter the income amount from your NR4 slip in the corresponding section
- Non-resident tax deducted:
- You can't claim the "non-resident tax deducted" (box 17) on your Canadian tax return
- To recover this amount, you'll need to apply for a refund separately
Important notes:
- Wealthsimple Tax is designed for Canadian residents. If you're not a resident of Canada, you may need to use different tax filing methods
- Contact your financial institution to update your residency status for future tax slips
Remember:
- Keep your NR4 slip and any related documents for your records
If you're unsure about your residency status or how to report NR4 income, consider consulting with a tax expert.
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