Hi Dalsa,

Thank you for your question.

In a joint investment account, the income is generally reported by the beneficial owner(s) of the funds, not necessarily based only on whose name appears first on the account. You should report your share of the investment income based on your actual ownership/contribution to the account.

For the NR4 interest income, if you are a Canadian tax resident and the slip was issued under the non-resident account holder’s name, you may still need to report your share of the interest income on your Canadian return as investment income, even if you did not receive a T5 slip personally.

For the U.S. dividend income, you should generally report your share of the foreign dividend income on your Canadian tax return as foreign investment income. It should not be reported as eligible or non-eligible Canadian dividend income. In other words, it is not treated the same way as Canadian dividend income reported on a T5 dividend box.

If foreign withholding tax was deducted on the U.S. dividends, you may also be able to claim your share of the foreign tax credit, provided you have proper supporting documentation.

You should keep detailed records showing:

• Your ownership percentage in the joint account
• The dividend and interest amounts earned
• Any foreign withholding tax deducted
• Brokerage statements supporting the income allocation

Because the slips were issued under the non-resident primary holder’s profile, I recommend confirming the reporting with the brokerage and ensuring the income is allocated correctly based on beneficial ownership.