2555ez or 1116

Yssa3675 · Post by **Yssa3675** » Tue Apr 15, 2014 4:38 pm

Is this right?

I am filling jointly with my husband , is filling my canadian taxes then use that income as a foreign exclusion using form 2555ez will work for my case or 1116? ( worked in canada till april then Ei after i move to us

nelsona · Post by **nelsona** » Tue Apr 15, 2014 4:46 pm

2555 will work for your Cdn wages,

Dont forget that your EI should not appear on your tax return. It should have had flat tax withheld.

It should appear on your joint US retunr too. And only 1116 can be used for the EI.

nelsona · Post by **nelsona** » Tue Apr 15, 2014 4:46 pm

"Dont forget that your EI should not appear on your CANADIAN tax return..."

Yssa3675 · Post by **Yssa3675** » Tue Apr 15, 2014 5:02 pm

[quote="nelsona"]2555 will work for your Cdn wages,

Dont forget that your EI should not appear on your tax return. It should have had flat tax withheld.

It should appear on your joint US retunr too. And only 1116 can be used for the EI.[/quote]

Turbo tax wont allow me to use 2555 coz i wasnt resident alien when i earned those money...

nelsona · Post by **nelsona** » Tue Apr 15, 2014 5:08 pm

You are electing to be treated as full-year residnt, so simply say yes when that question comes up.

Yssa3675 · Post by **Yssa3675** » Tue Apr 15, 2014 5:47 pm

[quote="nelsona"]You are electing to be treated as full-year residnt, so simply say yes when that question comes up.[/quote

Thank you very much!
Now, is EI consider passive income

nelsona · Post by **nelsona** » Tue Apr 15, 2014 6:02 pm

No, for ftc purposes, it is general limit. Passive is investment income.

Yssa3675 · Post by **Yssa3675** » Tue Apr 15, 2014 7:06 pm

[quote="nelsona"]No, for ftc purposes, it is general limit. Passive is investment income.[/quote]

Thank you very much! Big help!
So this what ive done..
File jointly
Used form 1116 for my EI
form 2555 for my income in canada( convert into usdollar) , this include my 5k withdrawal
8891 for my RRSPS( mutual funds) < 40k
Fbar to file for my rrsp( mutual funds) and savings cash > 10k

Have i done it right?
Its just lower our tax refund after i included my income .

Yssa3675 · Post by **Yssa3675** » Tue Apr 15, 2014 7:08 pm

[quote="Yssa3675"][quote="nelsona"]No, for ftc purposes, it is general limit. Passive is investment income.[/quote]

Thank you very much! Big help!
So this what ive done..
File jointly
Used form 1116 for my EI
form 2555 for my income in canada( convert into usdollar) , this include my 5k of rrsp withdrawal
8891 for my RRSPS( mutual funds) < 40k
Fbar to file for my rrsp( mutual funds) and savings cash > 10k

Have i done it right?
Its just lower our tax refund after i included my income .[/quote]

nelsona · Post by **nelsona** » Tue Apr 15, 2014 11:03 pm

sounds right. you had no choice about adding your EI.

You should not have any RRSP income to report however.

Yssa3675 · Post by **Yssa3675** » Wed Apr 16, 2014 6:45 am

[quote="nelsona"]sounds right. you had no choice about adding your EI.

You should not have any RRSP income to report however.[/quote]

Thank you very much!
More power to you!

Yssa3675 · Post by **Yssa3675** » Sat Apr 19, 2014 1:49 pm

[quote="Yssa3675"][quote="nelsona"]sounds right. you had no choice about adding your EI.

You should not have any RRSP income to report however.[/quote]

Thank you very much!
More power to you![/quote]

For Canada tax return,
Do i need to declare or put my US income?

nelsona · Post by **nelsona** » Sun Apr 20, 2014 6:36 am

Not if it was earned after you left Canada.