Search found 11 matches

by KenD
Fri Mar 03, 2006 3:03 pm
Forum: Canada / United States Tax & Accounting
Topic: Child Tax Cred (form 8812) How am I getting a US refund?
Replies: 2
Views: 1745

The turbotax interview made me do it! :shock:

It looks like I wipe out all my taxes with just the 1116..so I'm going to undo all the 2555 references.

Thanks Nelson! You were a big help to me last year when I moved back to Canada.
by KenD
Thu Mar 02, 2006 11:00 pm
Forum: Canada / United States Tax & Accounting
Topic: Child Tax Cred (form 8812) How am I getting a US refund?
Replies: 2
Views: 1745

Child Tax Cred (form 8812) How am I getting a US refund?

I just finished up my Turbo Tax and after a full year in Canada, enjoyed the relative simplicity of my American filing (US/Canada dual citizen living in Canada). So I use 2555 to exclude my first $80k, then 1116 to get credit for my Cdn taxes paid. I sort of figured it would work out to $0 and I wou...
by KenD
Mon Apr 04, 2005 11:37 am
Forum: Canada / United States Tax & Accounting
Topic: Deducting Moving Expenses Canada vs US
Replies: 18
Views: 4467

I was only in Canada for ~90 days last year, so I fall well short of the 330. However I'll be using the 2555 forever more (since I don't intend to move back to the US for at least another 15 years). The 1166 did a good job of wiping out US taxes on my Canadian taxes. So I was able to get my "usual" ...
by KenD
Fri Apr 01, 2005 2:25 pm
Forum: Canada / United States Tax & Accounting
Topic: Deducting Moving Expenses Canada vs US
Replies: 18
Views: 4467

I'm dual US/Canada - so this year was an 1166 year for me. So I was going to be on the hook for worldwide income regardless, so it made sense to deduct the moving expenses. All in all it helped bring me to my "usual" US refund (my wife is the nervous sort who wants to make sure we never owe money). ...
by KenD
Fri Apr 01, 2005 1:04 pm
Forum: Canada / United States Tax & Accounting
Topic: Deducting Moving Expenses Canada vs US
Replies: 18
Views: 4467

It appears that it didn't up making much of a difference on my Canadian taxes afterall. I'm keeping the deduction on my US taxes - because I was terminated from my US employer and hired by my Canadian employer...so if that's not moving for a new job, I don't know what is. Sure they both report up to...
by KenD
Tue Mar 29, 2005 9:47 am
Forum: Canada / United States Tax & Accounting
Topic: Deducting Moving Expenses Canada vs US
Replies: 18
Views: 4467

Deducting Moving Expenses Canada vs US

So I moved from the US to Canada in 2004 - during this move I paid over 6k in moving expenses..plus my land transfer tax in Ontario. Can I deduct all of my moving expenses on both returns? Or do I need to pick one...or split the expenses? Also - when claiming moving expenses, the revenue Canada lang...
by KenD
Mon Mar 28, 2005 2:28 pm
Forum: Canada / United States Tax & Accounting
Topic: keeping 401k and IRA after moving to canada
Replies: 53
Views: 27805

Both Putnam Investments (my 401k) and Fidelity Investments (my wife's IRA) both switched our addresses over to Canada without any problem. We had to phone them to make the address change, rather than doing it online, but that's it for how difficult it was.
by KenD
Mon Mar 21, 2005 2:36 pm
Forum: Canada / United States Tax & Accounting
Topic: landed in Canada in middle of 2004. How to file?
Replies: 26
Views: 14224

Like the original poster..I moved back to Canada at the end of September. So I'm only going to get taxed on the part of the year I was in Canada? Wow - I would have thought it would be worldwide income for the whole year like it is with the IRS> Does it matter that I'm a citizen returning vs. a new ...
by KenD
Tue Mar 15, 2005 1:12 pm
Forum: Canada / United States Tax & Accounting
Topic: Filing after a split year in Canada and US
Replies: 6
Views: 2701

Final reply - my IRS droid was a friendly/knowledgable one. Sadly the answer I got was not to my liking regarding stamp/land transfer taxes: page 3 of publication 530 states: You cannot deduct transfer taxes and similar taxes and charges on the sales of a personal home (there goes Mass stamp tax). I...
by KenD
Tue Mar 15, 2005 10:37 am
Forum: Canada / United States Tax & Accounting
Topic: Filing after a split year in Canada and US
Replies: 6
Views: 2701

With respect to my income, I have my pay stubbs - so picking the closing price on the exchange rate on each day yieled a whopping $200 difference vs. taking an average rate. So since I've got the data, I'll just include my spreadsheet with my form. However the home sale is an interesting question. I...
by KenD
Sun Mar 13, 2005 7:12 pm
Forum: Canada / United States Tax & Accounting
Topic: Filing after a split year in Canada and US
Replies: 6
Views: 2701

Filing after a split year in Canada and US

Wow - if I knew it was going to be this big a pain in the neck, I would have moved January 1st. I'm a dual US/Canada citizen, I lived in Massachusetts Jan to Sep the Oct to Dec in Canada. So here are my questions 1) Canadian income on US return..I'm working my way through the 1166 booklet. Do you ju...