Serbinski Accounting Firms

Hi Nelsona

Posting my query again if you can pl help.

I prepared my US return and have below items:

1) Capital gains of $75000 for entire year: do i split this into US and Canadian residency period and source Canadian period income to Canada return? Then claim taxes paid in Canada on US return as ...

also to add to 1) above that $75000 of gain is after offsetting my $25k of capital loss that i used from 2020. Not sure if that will have any impact on how much can i report in Canada.

Hi Nelsona

I prepared my US return and have below items:

1) Capital gains of $75000 for entire year: do i split this into US and Canadian residency period and source Canadian period income to Canada return? Then claim taxes paid in Canada on US return as foreign credit?
2) I have rental loss of ...

Thank you very much for your help, greatly appreciate..!

Best Wishes..!

Thanks for checking my query.

Canada: I was living in rented apartment, vacated the same when moved to US. Ended all my tie ups with Canada.

US: I was living in a rented apartment in California which I vacated when moved to Canada in Feb 2021. Due to some technical issue with my H1b status, my ...

Hello Nelsona

Could you pl help me with this situation.

I am US resident (H1b visa holder) under substantial presence days test. I worked in Canada on work permit from Feb to Oct (close to 200 days).

Income in US:

- Rental income for full year
- W-2 US residency period
- Stock sales (I bought ...