Right. I know I get no benefit to lower US tax.
Regarding the exchange rate, I am looking at the "Monthly and annual average rates". But I don't see US is listed.
Search found 6 matches
- Tue Jan 22, 2008 2:48 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Question on 401K and RRSP when filing tax for both countries
- Replies: 13
- Views: 7031
- Tue Jan 22, 2008 10:40 am
- Forum: Canada / United States Tax & Accounting
- Topic: Question on 401K and RRSP when filing tax for both countries
- Replies: 13
- Views: 7031
Nelsona, thanks, I will do a full 1040 inlcuding my incomes in Canada too, along with my wife's. and use 2555 to exclue Canadian income, right? I took a look at the http://www.cra-arc.gc.ca/tax/individuals/faq/exchange_rate-e.html to find the exchange rate, but couldn't find the rate for US Dollar. ...
- Mon Jan 21, 2008 9:33 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Question on 401K and RRSP when filing tax for both countries
- Replies: 13
- Views: 7031
Hi Nelsona, This is the first time I file both US and CDN tax. So I am still new to this. But I am very glad that I have your expertise here to help me and other people. Appreciate it very much. 1. I am assuming we will file US tax first, then file CDN tax using US credit since I have paid most of t...
- Mon Jan 21, 2008 8:12 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Question on 401K and RRSP when filing tax for both countries
- Replies: 13
- Views: 7031
Thanks Nelsona, So I really should stop contributing 401k if my current situation will continue for another year? or I keep purchasing, one day once I am not CDN, can I deduct all of them? the other question is: in my situation does it matter to me file 1040NR or 1040 and does it matter to me file j...
- Mon Jan 21, 2008 2:23 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Question on 401K and RRSP when filing tax for both countries
- Replies: 13
- Views: 7031
My situation is this: I was in states from Feb 4th to Oct 17. I went back Canada three times about 30 days in total during this period. My wife came to visit me twice. I rented an apartment during my stay in US. My wife intended to come in July 2007, hence we sold house in Canada, but then we found ...
- Sun Jan 20, 2008 9:21 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Question on 401K and RRSP when filing tax for both countries
- Replies: 13
- Views: 7031
Question on 401K and RRSP when filing tax for both countries
Hi, I am working with US company with TN status since Feb 2007. Before that I have been working in Canada. My wife is still living and working in Canada. I think I am a tax resident for both countries and need to file taxes for both countries. Correct me if I am wrong about this. Now I have question...