Search found 28 matches
- Sun Apr 14, 2024 9:23 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Correct amounts for form 1116 FTC with exchange rate and CCA impact
- Replies: 2
- Views: 185
Re: Correct amounts for form 1116 FTC with exchange rate and CCA impact
Thank you very much for these responses.
- Sun Apr 14, 2024 11:47 am
- Forum: Canada / United States Tax & Accounting
- Topic: Correct amounts for form 1116 FTC with exchange rate and CCA impact
- Replies: 2
- Views: 185
Correct amounts for form 1116 FTC with exchange rate and CCA impact
Hi all, I am a US resident with Canadian rental properties sold in 2023 and filing Sec 216, Sec 116 T1-NR and 1040 with Foreign Tax Credit (FTC) claim on form 1116. I have claimed CCA over the years (including before moving to the U.S) that resulted in a larger recapture on the Section 216 return th...
- Tue Apr 02, 2024 9:58 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Claiming medical, disability by NR Canadian Selling Rental Property
- Replies: 7
- Views: 220
Re: Claiming medical, disability by NR Canadian Selling Rental Property
Yes, I found that the limitation for medical expenses is the 90% rule, they can be claimed if Canadian-sourced income is at least 90% of the world income.
- Fri Mar 29, 2024 6:30 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Claiming medical, disability by NR Canadian Selling Rental Property
- Replies: 7
- Views: 220
Re: Claiming medical, disability by NR Canadian Selling Rental Property
Capital gain is indeed for a sale of Canadian real estate.
And thank you for the note on interest, I got an NR4 and I will be reporting that on a US return.
And thank you for the note on interest, I got an NR4 and I will be reporting that on a US return.
- Fri Mar 29, 2024 2:00 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Claiming medical, disability by NR Canadian Selling Rental Property
- Replies: 7
- Views: 220
Re: Claiming medical, disability by NR Canadian Selling Rental Property
Thank you nelsona.
I do have capital gains and interest and went to do T1 for Non-residents in UFile.
But as I entered medical expenses (which are more than 3% of net income), they seem to be ignored. Wondering if it is a software issue or there is some other criteria in effect.
I do have capital gains and interest and went to do T1 for Non-residents in UFile.
But as I entered medical expenses (which are more than 3% of net income), they seem to be ignored. Wondering if it is a software issue or there is some other criteria in effect.
- Thu Mar 28, 2024 9:23 am
- Forum: Canada / United States Tax & Accounting
- Topic: Claiming medical, disability by NR Canadian Selling Rental Property
- Replies: 7
- Views: 220
Claiming medical, disability by NR Canadian Selling Rental Property
Hi all, Can a NR Canadian living in U.S. claim any of medical expenses, disability, infirmity or caregiver amounts on a T1-NR or Section 216 return when reporting sale of rental property? These do appear to be selectable in the Ufile software but entered amounts do not seem to take any effect. Many ...
- Fri Mar 22, 2024 9:06 pm
- Forum: Canada / United States Tax & Accounting
- Topic: T1-NR for a Canadian selling Rental Property
- Replies: 4
- Views: 121
Re: T1-NR for a Canadian selling Rental Property
Thank you very much.
- Fri Mar 22, 2024 9:06 pm
- Forum: Canada / United States Tax & Accounting
- Topic: T1-NR for a Canadian selling Rental Property
- Replies: 4
- Views: 121
Re: T1-NR for a Canadian selling Rental Property
Thank you very much.
- Fri Mar 22, 2024 9:05 pm
- Forum: Canada / United States Tax & Accounting
- Topic: T1-NR for a Canadian selling Rental Property
- Replies: 4
- Views: 121
Re: T1-NR for a Canadian selling Rental Property
Thank you very much.
- Thu Mar 21, 2024 9:31 pm
- Forum: Canada / United States Tax & Accounting
- Topic: T1-NR for a Canadian selling Rental Property
- Replies: 4
- Views: 121
T1-NR for a Canadian selling Rental Property
Hi all, From 2 other posts my understanding is that when NR sells a rental property in Canada, in addition to T2062, T2062A, and a Section 216 return, NR should also file T1 as an NR to report capital gains/loss on the property (Section 116 return?). Is my understanding correct? Can anyone clarify: ...
- Sun Apr 13, 2014 5:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting TFSA income in the US - reportable loss or not?
- Replies: 19
- Views: 7693
- Sat Apr 12, 2014 10:30 am
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting TFSA income in the US - reportable loss or not?
- Replies: 19
- Views: 7693
The shares were bought in the initial offering, now it is hard to find a buyer. What a headache for so little value. This is what my wife says, this is my wife's account and I can't blame her for taking this approach. She wants to be a NR for 2013 in the US, if possible. She figured that as she went...
- Fri Apr 11, 2014 5:46 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting TFSA income in the US - reportable loss or not?
- Replies: 19
- Views: 7693
- Fri Apr 11, 2014 5:03 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting TFSA income in the US - reportable loss or not?
- Replies: 19
- Views: 7693
- Fri Apr 11, 2014 3:03 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting TFSA income in the US - reportable loss or not?
- Replies: 19
- Views: 7693