Serbinski Accounting Firms

I was asking that because if i exclude canadian income using 2555 I pay more US taxes then if I take a credit for the taxes payed on 1116. I did my taxes both ways and going the way of 1116 id the better way for me ( but I am single).

Thank you very much!

1 . I am filling a 1040 and I reported my world income. I excluded my Cdn wages on form 2555.Can I still take a credit for CPP and EI on form 1116? If yes, what are the wages I report them on? 2 . If I use 1116 only to take a credit for all my canadian payed taxes, is there a way to exclude that inc...

Thanks that's what I thought.

It's really bad though, it turns out I OWE taxes?? I'm not sure how the 2555 deduction works, I don't see anywhere anything deducted because I filled that out. Am I missing something?

Hi, I am new here and after reading through all this stuff I still have some questions regarding mt 2007 tax return. So my situation is: moved to US in June 2007 with a TN. I have income in both Canada and US for 2007 , an RRSP left in Canada which I didn't touch since I left and a bank account with...