Search found 4 matches

by DavidM93
Sat Oct 12, 2019 6:58 pm
Forum: Canada / United States Tax & Accounting
Topic: Question Regarding U.S. Foreign Tax Credit
Replies: 7
Views: 994

Re: Question Regarding U.S. Foreign Tax Credit

Ok I will keep that in mind. I was trying to see if this technique would work because due to credits I have accumulated from prior years (tuition, education, textbooks), my Canadian tax was effectively becoming zero and I was getting a refund on the taxes I already paid. On the U.S. side that would ...
by DavidM93
Fri Oct 11, 2019 4:38 pm
Forum: Canada / United States Tax & Accounting
Topic: Question Regarding U.S. Foreign Tax Credit
Replies: 7
Views: 994

Re: Question Regarding U.S. Foreign Tax Credit

Thanks Nelsona!! I went through the treaty in more detail. I think paragraph 2 (a). of Article XV (Dependent Personal Services) in the tax treaty also applies in my situation. Because I am considered a resident of U.S. after Jan 20th 2018 and I received the Canadian sourced income after that (and it...
by DavidM93
Tue Oct 08, 2019 8:23 pm
Forum: Canada / United States Tax & Accounting
Topic: Question Regarding U.S. Foreign Tax Credit
Replies: 7
Views: 994

Re: Question Regarding U.S. Foreign Tax Credit

Thanks for your response nelsona! To clarify, since I earned that income in Canada. 1) Would I pay taxes on that income there first? Then based on what I actually end up paying to the Canadian and Ontario government, take a credit on my U.S. tax return? 2) If it haven't filed yet in Canada, do I nee...
by DavidM93
Mon Oct 07, 2019 11:59 pm
Forum: Canada / United States Tax & Accounting
Topic: Question Regarding U.S. Foreign Tax Credit
Replies: 7
Views: 994

Question Regarding U.S. Foreign Tax Credit

I had a question regarding Canadian income I earned before I moved to the U.S. and how I can avoid double taxation. After calling the IRS and CRA both are citing different rules. IRS is saying I received it after I moved to U.S. so its taxable in U.S. While CRA is saying it is Canadian sourced incom...