Search found 9 matches
- Fri Nov 25, 2022 4:30 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canada Departure Return for 1 Day
- Replies: 7
- Views: 5028
Re: Canada Departure Return for 1 Day
Thank you Nelson! If I am interpreting this correctly then in the departure return for my part-year Canada resident, I would NOT report my world income (aka US employment income that I earned while I was a USA resident) since I didn't earn any income during my time as a Canadian resident and am not ...
- Wed Nov 16, 2022 12:41 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canada Departure Return for 1 Day
- Replies: 7
- Views: 5028
Re: Canada Departure Return for 1 Day
Thanks Nelson. For the tax return in the departure year aka departure return,, where do I report the world income (or income that I earned while I was in the USA and a Canada non-resdient) because a Schedule A is only for non-resident
- Sat Nov 12, 2022 3:15 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canada Departure Return for 1 Day
- Replies: 7
- Views: 5028
Re: Canada Departure Return for 1 Day
For tax year 2020 CANADA tax return: the full US wages were included on the CDN return and it was filed as if I was there for the full year as a resident. For 2020 tax year, IRS/US taxes were filed as a non-resident (1040NR for federal), I was told at that time that I could not have a departure date...
- Thu Nov 10, 2022 5:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canada Departure Return for 1 Day
- Replies: 7
- Views: 5028
Canada Departure Return for 1 Day
Hello! In need of a bit of advice on my situation, a CPA suggested I do the following but I am not sure if this approach is right - to file a Canadian tax return but put the departure date as Jan 1, 2021 because I didn't file previously. -2020 Taxes - filed in Canada as a resident, pervious accounta...
- Mon Sep 05, 2022 9:10 pm
- Forum: Canada / United States Tax & Accounting
- Topic: double taxation on canadian savings account?
- Replies: 3
- Views: 1385
Re: double taxation on canadian savings account?
So I had forgotten to tell my canadian bank and they issued a T5 slip. Do I still report this both like a 1099-INT on my IRS USA tax and my CRA canada T5? Thanks
- Thu Aug 18, 2022 6:50 pm
- Forum: Canada / United States Tax & Accounting
- Topic: double taxation on canadian savings account?
- Replies: 3
- Views: 1385
double taxation on canadian savings account?
I have a Canadian savings accounts which I earned about $150 of interest on but I am a US tax resident during 2021 when it happened. How do I report this to avoid getting double taxed on both Canada and USA? Thank you
- Sat Jul 30, 2022 8:08 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Confusion on how to file for PFIC
- Replies: 0
- Views: 54237
Confusion on how to file for PFIC
Are there any free resources on how to file the taxes for my Canadian ETF dividends? Thank you
- Sat May 14, 2022 4:53 pm
- Forum: Canada / United States Tax & Accounting
- Topic: PFIC Reporting Requirement
- Replies: 1
- Views: 2356
PFIC Reporting Requirement
I have a TFSA with only $9k holding the common XEQT Canadian ETF. I've received about $50 worth of dividends last year from this one ETF. Do I still need to do any PFIC Reporting even though it is under 25k? Thank you
- Thu May 05, 2022 5:31 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canada CRA Departure Date
- Replies: 1
- Views: 1022
Canada CRA Departure Date
I received a letter from the CRA asking me for supporting documentation of my departure date of June. I am a Canadian citizen, was (1) studying on an F1 visa in Jan-June and (2) Got an h1b and started working for US-based employer July-Dec. My CPA filed me as a US non-resident and Canada departure r...