Search found 11 matches
- Sun Apr 01, 2007 11:00 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Resident: US capital gains, 1040NR and Canadian Tax
- Replies: 37
- Views: 27968
Thanks nelson. Yes, the total is less than 3300. But in 2007, Fidelity will withhold tax on short-term capital gain distributions, dividends, and interest on the mutual fund I bought. You mentioned: [quote]The cap gains exclusion would be more correctly mentionned in 'M' as NOT effectively connected...
- Sat Mar 31, 2007 11:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Resident: US capital gains, 1040NR and Canadian Tax
- Replies: 37
- Views: 27968
Hi Nelson, Just a few more detailed questions on 1040-NR. On 1040-NR form, I put: (1) Qualified Div, 1b of 1099-DIV, to Line 10b. (2) Ordinary Div, 1a of 1099-DIV, to Line 10a. (3) Interest, 1099-INT, to Line 9a. My questions: (1) As you mentioned, capital gain should not be taxed in States since I ...
- Mon Mar 19, 2007 7:27 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Resident: US capital gains, 1040NR and Canadian Tax
- Replies: 37
- Views: 27968
Thanks!
Thanks nelsona! You are always so helpful!
- Sat Mar 17, 2007 6:33 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Resident: US capital gains, 1040NR and Canadian Tax
- Replies: 37
- Views: 27968
Canadian Resident: US capital gains, 1040NR and Canadian Tax
Hi, I returned in Canada in 2005 and stayed in Canada for 2006. I still have Fidelity investment account where I bought mutual funds. In 2006, there are: (a) Ordinary dividends. (b) Qualified dividends. (c) Capital gain distributions. (d) Interest income. Here are my questions: (1) For 2006, there i...
- Wed Apr 06, 2005 1:48 am
- Forum: Canada / United States Tax & Accounting
- Topic: Taking a break until at least April 19
- Replies: 3
- Views: 2698
- Tue Apr 05, 2005 3:40 pm
- Forum: Canada / United States Tax & Accounting
- Topic: tax considerations: moving back to Canada
- Replies: 17
- Views: 16369
Thanks nelsona! Based on pub 54, as a H1B holder, I'll be qualified for foreign income exclusion as a resident alien in a Country with trade treaty. To be regarded as resident alien, two tests in pub 519: (1) greencard test (2) general presence test: I can pass the general presence test for 2005, bu...
- Sat Apr 02, 2005 2:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: tax considerations: moving back to Canada
- Replies: 17
- Views: 16369
- Fri Apr 01, 2005 1:15 am
- Forum: Canada / United States Tax & Accounting
- Topic: tax considerations: moving back to Canada
- Replies: 17
- Views: 16369
Thanks a lot nelsona! From the advices you gave in this topic and other topics, most likely I'll transfer my 401K to an IRA rollover (from another post, it's mentioned Fidelity allows foreign addresses, I'll double check). In future, when the exchange rate is better and my Cdn income is more than 50...
- Thu Mar 31, 2005 3:09 am
- Forum: Canada / United States Tax & Accounting
- Topic: tax considerations: moving back to Canada
- Replies: 17
- Views: 16369
Sorry, forgot the the 3rd way (c) to file 2005 US-tax using 1040 with salary $25K, with standard deduction (excluding Cdn-income) => 25K - 8K(standard deduction + 1 exemption) = 17 K taxable income => 2.2K US-tax then to collapse 401k in 2006, using 1040NR without standard deduction => 30K - 3K (1 e...
- Thu Mar 31, 2005 3:03 am
- Forum: Canada / United States Tax & Accounting
- Topic: tax considerations: moving back to Canada
- Replies: 17
- Views: 16369
- Wed Mar 30, 2005 2:44 am
- Forum: Canada / United States Tax & Accounting
- Topic: tax considerations: moving back to Canada
- Replies: 17
- Views: 16369
tax considerations: moving back to Canada
Finally here is the place to post the message, hope to get answers this time. I'm a Canadian citizen. I'm planning to go back to Canada at the end of April this year (2005) after working here for two years on a H1B. There'll be no overlapping income from US and Canada for the year. Here are the ques...