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Question

I won some money at a casino in Washington state. they sent me a form 1042s. how do I file this to receive back the money that they withheld?

Forum|Forum|2 years ago
October 2, 2023
1 reply
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If you are a Canadian resident, you will report the 1042S as your foreign income such as investment income, as well as taxes withheld on the “Foreign” slip in your Canadian tax return.

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Do I put the gross amount I won in the Foreign investment income section and then put the amount they deducted? If I do this, it increases the amount I owe to CRA which doesn't seem correct. Can someone tell me if I am doing this right? Thanks

As per the CRA: If you received US lottery or gambling winnings, do not report this income on your Canadian income tax return, as this income is not taxable in Canada. Additionally, you cannot claim a credit for any taxes withheld on these winnings.

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