Search found 8 matches

by hp
Wed Mar 26, 2008 12:06 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian on TN in US first year tax
Replies: 16
Views: 12074

nelsona, During Bona Fide Residence test, there is a question regarding Visa Type. "Enter the type of visa under which xxx entered the foreign country". Here the foreign country is Canada? Since we are Canada citizen, I can skip this, right? Thanks!
by hp
Mon Mar 24, 2008 12:56 am
Forum: Canada / United States Tax & Accounting
Topic: Residency question
Replies: 11
Views: 6937

nelsona, I have similar situation. If I choose A to only report Canadian income to CRA, do I have to get assessment from CRA first? I mean how CRA agree on my choice? Everything is just based on my own choice? Thanks in advance.
by hp
Tue Mar 18, 2008 2:02 pm
Forum: Canada / United States Tax & Accounting
Topic: what's the best way to file U.S. tax?
Replies: 17
Views: 11362

Thank you so much!!!
by hp
Tue Mar 18, 2008 10:40 am
Forum: Canada / United States Tax & Accounting
Topic: what's the best way to file U.S. tax?
Replies: 17
Views: 11362

Nelsona, forgive me if my question is stupid :-p . Let's say I have $1000 interest from T5 and I move to US in March.
I put 1000 x (10/12) x 90% in schedule B (box1)
and put 1000 x (10/12) x 10% + 1000 x (2/12) in stead of T5 when I file Canada tax. Correct?
by hp
Tue Mar 18, 2008 9:16 am
Forum: Canada / United States Tax & Accounting
Topic: what's the best way to file U.S. tax?
Replies: 17
Views: 11362

nelsona, Thanks a lot. For my case do you mean when I fill schedule B I should put 90% of interest in "Interest Amount(Box 1)" and 10% of interest in "Foreign Tax Paid(Box 6)" ? Thanks.
by hp
Mon Mar 17, 2008 3:13 pm
Forum: Canada / United States Tax & Accounting
Topic: what's the best way to file U.S. tax?
Replies: 17
Views: 11362

Nelsona, Sorry to confuse you. I was wrong. Actually I left Canada in March 2007, but I didn't inform my bank. So I still got T5. Anyway I will file 1040 whole year in US and file world income to Canada as well. I put all Canadian interest (from T5) in Schedule B, and file form 1116 as well. But the...
by hp
Mon Mar 17, 2008 11:01 am
Forum: Canada / United States Tax & Accounting
Topic: what's the best way to file U.S. tax?
Replies: 17
Views: 11362

Hi Nelsona, correct me if I am wrong. 1. I can't use form 1116 to get foreign credit tax back for RRSP account. 2. If I bought mutual fund in RRSP account and didn't sell it. I only need to pay dividend if it has. 3. I put my foreign interest in form td f 90-22.1 and take foreign credit back in form...
by hp
Mon Mar 17, 2008 10:53 am
Forum: Canada / United States Tax & Accounting
Topic: First year US/Cdn taxes: 2555/1116 question
Replies: 6
Views: 4394

Nelsona, Can you explain a little bit more about "you would report that income on 1040 and then include the prorated portion of your INCOME tax (not CPP/EI) that you owed for that income only"? Where should I put it? My understanding is after I excluding my Canadian wages from form 2555, i...