Search found 30 matches

by Fan8899
Tue Apr 02, 2019 9:04 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian working in US, need file both US and Canada income tax return
Replies: 49
Views: 16103

Re: Canadian working in US, need file both US and Canada income tax return

I stayed in Ontario, Canada in first 40 days of 2018, moved to FL US to work full time in Feb. 2018. stayed most time in FL US in 2018, still living and working in FL now. My wife and kids stayed in Ontario, Canada. I went back my Ontario Canada home on Dec. 22, 2018 to visit my family there and cam...
by Fan8899
Wed Mar 27, 2019 8:07 pm
Forum: Canada / United States Tax & Accounting
Topic: Pro Forma 1040 for XXV(4) calculation for US Return 2018
Replies: 15
Views: 11628

Re: Pro Forma 1040 for XXV(4) calculation for US Return 2018

Thanks for the confirmation. I was reading the old version treaty, now noted XXV(3) is correct article no. for Pro Forma 1040.
by Fan8899
Tue Mar 26, 2019 1:09 pm
Forum: Canada / United States Tax & Accounting
Topic: Article XXV for Canadian Residents
Replies: 53
Views: 21920

Re: Article XXV for Canadian Residents

I think the formula above for 2018 pro forma 1040 and 1040 NR is correct, but keep in mind, some people may use 1040NR-EZ instead of 1040NR,
then line no. may be different, it is more important to understand the concept of the formula instead of line no. also it should be XXV(4), not (2).
by Fan8899
Tue Mar 26, 2019 12:47 pm
Forum: Canada / United States Tax & Accounting
Topic: Pro Forma 1040 for XXV(4) calculation for US Return 2018
Replies: 15
Views: 11628

Re: Pro Forma 1040 for XXV(4) calculation for US Return 2018

Hi Nelsona, regarding treaty article for Pro forma 1040, you mentioned in another post initiated by me, it is XXV(4). I doubled checked the treaty link today, it should be XXV(4) instead of XXV(3). please review and confirm. Thanks
by Fan8899
Sat Mar 23, 2019 10:13 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian working in US, need file both US and Canada income tax return
Replies: 49
Views: 16103

Re: Canadian working in US, need file both US and Canada income tax return

When I do 1040NR using taxact.com, I chose no dependents as two kids do not live with me since Feb. 2018. After printing, it comes out as 1040NR-EZ instead of 1040NR. I assume it should be OK to use 1040NR-EZ for my case. Another question is. I think I need use form 8833 to explain to IRS why I file...
by Fan8899
Sun Mar 10, 2019 12:37 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian working in US, need file both US and Canada income tax return
Replies: 49
Views: 16103

Re: Canadian working in US, need file both US and Canada income tax return

Nelsona, thanks for your comment. Noted I do not need apply ITIN for my wife. I already bought Canada RRSP, because I have large RRSP room from previous years. so I will pay little Canada tax even I go Article (4) for US tax. In fake 1040 I already made with taxact, I chose MFJ and input my wife nam...
by Fan8899
Sat Mar 09, 2019 4:17 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian working in US, need file both US and Canada income tax return
Replies: 49
Views: 16103

Re: Canadian working in US, need file both US and Canada income tax return

Thanks Nelsona for rental instruction. Now I am wondering if I need apply ITIN for my wife, She stays in Canada in 2018. When I file Article XXV(4), i.e fake 1040 plus 1040NR. Because it is fake 1040, I should not need apply ITIN for my wife. It is only to help me get tax rate for my 1040NR. In the ...
by Fan8899
Sun Mar 03, 2019 2:08 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian working in US, need file both US and Canada income tax return
Replies: 49
Views: 16103

Re: Canadian working in US, need file both US and Canada income tax return

Understand my wife need not report her income in our fake 1040 MFJ per XXV(4), because her total income is a deficit. But I still need report my Canada rental income through Schedule E in fake 1040, I would assume I only need report my portion of rental income and expense, which is only 50%. Please ...
by Fan8899
Sat Mar 02, 2019 2:18 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian working in US, need file both US and Canada income tax return
Replies: 49
Views: 16103

Re: Canadian working in US, need file both US and Canada income tax return

Regarding reporting our Canada rental income in fake 1040 MFJ. Since my wife and myself each own 50% of the house, should we each file schedule E separately or we can just file one schedule E for both? total rental income will be a loss, because of the house deprecation, and for my wife, half of tot...
by Fan8899
Tue Feb 26, 2019 9:35 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian working in US, need file both US and Canada income tax return
Replies: 49
Views: 16103

Re: Canadian working in US, need file both US and Canada income tax return

Thanks for confirming 40 years is the depreciation rate for foreign rental. If I bought the rental house at $400K a few years ago, should I deduct the land value before depreciation? Can I estimate land value is 30% of my purchasing cost?
by Fan8899
Mon Feb 25, 2019 10:43 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian working in US, need file both US and Canada income tax return
Replies: 49
Views: 16103

Re: Canadian working in US, need file both US and Canada income tax return

I was planning to hire someone to do my US tax, but seems no CPA want to try Article XXV(4) for their clients. I can buy RRSP to reduce my Canada tax. For fake 1040. I have problem with my Canadian rental income, regarding house value depreciation, how to calculate? someone told me that I can just d...
by Fan8899
Sun Feb 24, 2019 9:50 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian working in US, need file both US and Canada income tax return
Replies: 49
Views: 16103

Re: Canadian working in US, need file both US and Canada income tax return

Thanks nelsona. Now I know that I need report my rental income in fake 1040, but no need report my wife Canadian income, because her Canadian total income is negative (more rental loss than T4 income). I still need apply ITIN for her at my 1040NR. Regarding Article XXV (4), it is interesting to find...
by Fan8899
Sat Feb 23, 2019 11:04 pm
Forum: Canada / United States Tax & Accounting
Topic: Article XXV for Canadian Residents
Replies: 53
Views: 21920

Re: Article XXV for Canadian Residents

Not accurate, above formula is for year 2014 form 1040, year 2018 form 1040 is different, line no. is different, but the concept is same.
by Fan8899
Fri Feb 22, 2019 2:02 pm
Forum: Canada / United States Tax & Accounting
Topic: Article XXV for Canadian Residents
Replies: 53
Views: 21920

Re: Article XXV for Canadian Residents

1) I believe IRS can ask you to send them Canadian T4 if they want to verify.
2) You are correct, 2018 1040 line no. will be different with 2015, due to 1040 form change for 2018.
by Fan8899
Fri Feb 15, 2019 8:24 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian working in US, need file both US and Canada income tax return
Replies: 49
Views: 16103

Re: Canadian working in US, need file both US and Canada income tax return

I did further research, I think I find some answers to above three questions. 1. Yes. I need report my rental income to IRS in fake 1040 even it is negative, it actually will lower my US tax. 2. Yes. I need apply ITIN for my wife, because I file US return as married. 3. No answer yet, probably both ...