Search found 15859 matches

by nelsona
Tue Jun 25, 2019 7:16 am
Forum: Canada / United States Tax & Accounting
Topic: reporting thresholds when you are a non US residents
Replies: 5
Views: 29

Re: reporting thresholds when you are a non US residents

AS I said earlier, whether you are considered residing abroad only affects the threshold. Since you won't meet any of those tests for 2019, you will need to follow the married US resident thresholds.
by nelsona
Mon Jun 24, 2019 10:59 pm
Forum: Canada / United States Tax & Accounting
Topic: reporting thresholds when you are a non US residents
Replies: 5
Views: 29

Re: reporting thresholds when you are a non US residents

This form is filed every year whether or not you live in US, IF you meet the threshold for residents or non-resident, depending on your situation. If you've had sufficient specified assets in Canada in past years (RRSPs bank accounts, property, etc) you would have had to submit that form with your r...
by nelsona
Mon Jun 24, 2019 9:21 am
Forum: Canada / United States Tax & Accounting
Topic: Gift from foreign relative.
Replies: 2
Views: 29

Re: Gift from foreign relative.

As long as it is less than 100K US per year there is nothing to report in either country for either the 'gifter' or the recipient.
by nelsona
Sat Jun 22, 2019 7:13 am
Forum: Canada / United States Tax & Accounting
Topic: Residency with a home and a lease
Replies: 1
Views: 43

Re: Residency with a home and a lease

Until you have a "home" in US (not hotels), you are not considered as having left Canada Once you do, you will be considered non-resident.
by nelsona
Sat Jun 22, 2019 7:10 am
Forum: Canada / United States Tax & Accounting
Topic: Tax implications for beneficiary of RRSP, TFSA (US Resident)
Replies: 1
Views: 46

Re: Tax implications for beneficiary of RRSP, TFSA (US Resident)

You have nothing to file in either country on this income.
by nelsona
Sat Jun 22, 2019 7:09 am
Forum: Canada / United States Tax & Accounting
Topic: IRA withdrawal
Replies: 5
Views: 106

Re: IRA withdrawal

1040NR by definition only includes US source income. So your RRSP withdrawal means nothing to US. The best way to get full credit on your Cdn return for US taxes paid on your IRA is to reduce the US tax by reporting the income on a 1040NR rather than simply accepting the withholding done by the IRA ...
by nelsona
Mon Jun 17, 2019 10:54 am
Forum: Canada / United States Tax & Accounting
Topic: Question about a US 457B account (US citizen)
Replies: 1
Views: 32

Re: Question about a US 457B account (US citizen)

It's 2, but you will always pay tax in US first, and then get credit in Canada for what you paid in US on your CDn return.
by nelsona
Mon Jun 17, 2019 8:15 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian principal residence with shared ownership
Replies: 1
Views: 39

Re: Canadian principal residence with shared ownership

Your half: one year from when you left.
Her half, one year after she leaves.
by nelsona
Mon Jun 17, 2019 8:14 am
Forum: Canada / United States Tax & Accounting
Topic: Ontario health card and dual taxation
Replies: 2
Views: 50

Re: Ontario health card and dual taxation

You are an emigrant from the day you moved to US. See the info on CRA website, or the 1000's of posts here on that subject. Wheel has already been invented, and tried out. Happy browsing.
by nelsona
Mon Jun 17, 2019 8:13 am
Forum: Canada / United States Tax & Accounting
Topic: Ontario health card and dual taxation
Replies: 2
Views: 50

Re: Ontario health card and dual taxation

You don't have to cancel these to be non-resident (they aren't primary residential ties) , but you can't use OHIP, and you must get state DL within 30 days of moving.
by nelsona
Mon Jun 17, 2019 8:11 am
Forum: Canada / United States Tax & Accounting
Topic: TD Now Allows Mutual Funds for US RRSP Holders
Replies: 4
Views: 149

Re: TD Now Allows Mutual Funds for US RRSP Holders

Been a TD direct RRSP holder for 15 years (after Altamira was bought out) and only invested in TD mutuals the whole time.
by nelsona
Wed Jun 12, 2019 5:00 pm
Forum: Canada / United States Tax & Accounting
Topic: IRA withdrawal
Replies: 5
Views: 106

Re: IRA withdrawal

No, because you are not taxable in Canada due to low income. However, you would (and should) file a 1040NR, reporting the IRA on page one, and get most if not all your withholding back.
by nelsona
Wed Jun 12, 2019 4:57 pm
Forum: Canada / United States Tax & Accounting
Topic: TD Now Allows Mutual Funds for US RRSP Holders
Replies: 4
Views: 149

Re: TD Now Allows Mutual Funds for US RRSP Holders

TD Direct Investing has always allowed this. Are you talking TD Canada Trust?
by nelsona
Mon Jun 03, 2019 6:07 am
Forum: Canada / United States Tax & Accounting
Topic: Quebec-USA double tax avoidance
Replies: 1
Views: 83

Re: Quebec-USA double tax avoidance

All provinces honor the treaty, including QC.
Not sure what you mean? What "employment income" and "capital gains" provisions are you talking about.

Not sure why you would thing the 183 days matter. your actual residency starting date determines filing, not whether you moved before or after July 1.
by nelsona
Mon Jun 03, 2019 6:04 am
Forum: Canada / United States Tax & Accounting
Topic: US tax for RRSP RIF distribution Taxable and Foreign tax Credit
Replies: 26
Views: 892

Re: US tax for RRSP RIF distribution Taxable and Foreign tax Credit

The BOY is the value on 1/1 of the year. It would take into account growth/loss as well as any distributions.