Serbinski Accounting Firms

sounds good
thanks nelson

i will search up that rev just for the record

I have a question about deemed disposition of stocks I had owned in Canada.

The tax that was paid on the capital gain, can they be claimed as foreign tax paid on Form 1116?
And more importantly, if I can, do I claim the year they were actually sold (since I still have them) or the year I move to ...

Sorry, for some reason I thought I was replying to my own thread here
http://forums.serbinski.com/viewtopic.php?t=4437

:shock:

Please ignore my previous reply.

My calculation came out showing a full year 1040 is more beneficial, agreeing with Nelsona.

I still have some uncertainties. If you will, let me propose what I think I should do. Please correct me if I am wrong.

On my Cdn filing, I would file deemed non-resident ...

Q: How I elect to file my US taxes changes how I file my Cdn taxes?

For example.
US: 1040, results in--> Cdn: deemed non-resident
US: 1040NR, results in--> Cdn: deemed resident
Correct?


If I have tuition credit from previous years + 2009 tuition, where do I appy these credits? I can't double-dip ...

After reading Publication 970, I am not even sure if I can claim any tuition tax credit as the last payment was made in 2009 and Canadian university, I guess would not meet this statement "postsecondary educational institution eligible to participate in a student aid program administered by the U.S ...

If you are in the same situation as me then you have 3 options (I believe)

1) File as non-resident, using 1040NR.
2) File as dual-resident, (part-1040NR, part-1040).
3) by treaty, you can file a full year 1040

As nelsona pointed out that most of the time it is more beneficial to file a full 1040
I ...

One last question before I go back and read more.

What are the tax implications if I go back to Canada after this 1 year contract. I guess the question is should this be of consideration when filing my 2010 taxes?

This would mean i am a resident of:
-Canada from jan 2010 to Aug 2010
-US from Sept ...

[quote="nelsona"]12 questions!? Absorb a little more first.

You became US resident the day you moved to US on TN. work from that starting point.[/quote]

I know I still have a lot of reading to do.



Wouldn't I be considered as a NR because I didn't meet the Substantial Presence Test in 2010? I ...

In addition to the set of questions listed above

I also would like to know:

12) how to calculate the tax refund as I expect to get some back since I have only been working in the US for a few month.

The reason I am asking is that would reduce the actual amount of taxes paid and for Canadian tax ...

I think this topic has been brought up a number of times and I have read as much as I could absorb before starting a new thread. I thank you in advanced for any help given. (I have no experience in filing tax)

I have a number of questions but first thing first, here is my situation.

-
I moved to ...