Search found 5 matches

by edcrfvtgb
Fri Apr 05, 2019 2:27 pm
Forum: Canada / United States Tax & Accounting
Topic: My 2018 Tax Return (Canadian departed in 2018 to US under TN)
Replies: 8
Views: 3038

Re: My 2018 Tax Return (Canadian departed in 2018 to US under TN)

Yes, nelsona, you are right. You have mentioned what the tax credit would be for my case. Like you said, normally the longer one worked in Canada it is better to use deduction, however in my case my Canadian income is still much lower despite that I spend 2/3 of 2018 in Canada. Thanks for the discus...
by edcrfvtgb
Thu Apr 04, 2019 5:53 pm
Forum: Canada / United States Tax & Accounting
Topic: My 2018 Tax Return (Canadian departed in 2018 to US under TN)
Replies: 8
Views: 3038

Re: My 2018 Tax Return (Canadian departed in 2018 to US under TN)

Just checked again the tool (TaxAct) and correct some numbers here. All in US dollar. W2 $88,000 T4 $51,000 1. When using 1040, MFJ, with only W2, tax payable is $7,300. 2. Adding T4, tax payable is $17,300 3. Using 2555 (shown up in schedule 1/1040 as a deduction), tax payable is $11,500 4. Using 1...
by edcrfvtgb
Thu Apr 04, 2019 2:56 pm
Forum: Canada / United States Tax & Accounting
Topic: My 2018 Tax Return (Canadian departed in 2018 to US under TN)
Replies: 8
Views: 3038

Re: My 2018 Tax Return (Canadian departed in 2018 to US under TN)

I didn't have cap gains by selling investments before leaving Canada. I haven't touched RRSP since then (still having an account open in Canada). When I use 2555, the total tax payable in IRS return is more than if I don't exclude the income and use form 1116 to take the credit. In the IRS return, m...
by edcrfvtgb
Thu Apr 04, 2019 2:14 pm
Forum: Canada / United States Tax & Accounting
Topic: My 2018 Tax Return (Canadian departed in 2018 to US under TN)
Replies: 8
Views: 3038

Re: My 2018 Tax Return (Canadian departed in 2018 to US under TN)

Hi nelsona, I ran through two software and using 2555 has less benefit to me. For me the income from Canada in 2018 is around $40,000 USD, while from USA it is around $70,000. Does it make sense to you? I also tried 1040NR which is not giving me the most refund either. I filed my Canadian income ind...
by edcrfvtgb
Thu Apr 04, 2019 2:35 am
Forum: Canada / United States Tax & Accounting
Topic: My 2018 Tax Return (Canadian departed in 2018 to US under TN)
Replies: 8
Views: 3038

My 2018 Tax Return (Canadian departed in 2018 to US under TN)

Hi all, I am putting together how I prepared my 2018 US tax return. This is done based on all the posts shared in this forum. Background: Myself: Canadian citizen, worked in Canada from Jan to Aug 2018, moved to US since Sep 2018 under TN visa My wife: Canadian citizen, no work in Canada/US, moved t...