Question:   Are the Canada Pension Plan and Canadian Old Age Security Benefits taxable? If they are, please tell me where they should be entered on Form 1040.

Answer:   Benefits paid under the Canada Pension Plan (CPP), Quebec Pension Plan (QPP), and Old Age Security (OAS) program:

• If the recipient is a resident of the United States—
  • are taxable only in the United States if the recipient is a resident of the United States,
  • are treated as U.S. social security benefits for U.S. tax purposes, and
  • are reported on Form 1040 (PDF), U.S. Individual Income Tax Return or Form 1040A (PDF) on the line on which U.S. social security benefits would be reported.
• If the recipient is a U.S. citizen or green card holder who is a resident of Canada are taxable only in Canada.

NOTE:  Refer to Tax Topic 423 for information about determining the taxable amount of your benefits.