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.
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
