Search found 12 matches

by maminej
Tue Feb 14, 2017 12:04 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP cost base withdrawal
Replies: 4
Views: 2444

Got it.

Thanks a lot for you help.
I think this will be very helpful for several people in my situation.
by maminej
Tue Feb 14, 2017 9:45 am
Forum: Canada / United States Tax & Accounting
Topic: RRSP cost base withdrawal
Replies: 4
Views: 2444

Thanks for the clarifications.
Based on your explanation, i should file as follows:
16a. 9200. USD (that's 13000cad that I put in my rrsp prior to moving)
16b. -50$ USD ( about 75cad service fee my bank charged me when I withdrew + there was no interest paid or groth on the account)

Is that correct ?
by maminej
Mon Feb 13, 2017 10:37 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP cost base withdrawal
Replies: 4
Views: 2444

RRSP cost base withdrawal

Hello, In 2016, we made a withdrawal from our RRSP for an amount less than 10000 USD ( and closed the account ). we automatically paid 25% tax to CRA. This was a fresh RRSP account we opened a year before moving to the US, so there was no interests paid or any gains. I basically just withdrew the co...
by maminej
Tue Jan 26, 2016 7:22 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP simple question
Replies: 5
Views: 3280

Thanks for the prompt reply Nelson. Can you please further explain the difference you meant between deduction and credit. I am sorry, I have an engineering background and i want to educate myself. If you know of a reference that I should read prior to posting stupid questions, please advice.. Regard...
by maminej
Tue Jan 26, 2016 6:41 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP simple question
Replies: 5
Views: 3280

RRSP simple question

Hello, I have a <10K USD RRSP in Canada, that I still regret I didn't close before moving to the US. My understanding that with that little amount, I do not need to report it as I don't meet the threshold of Form 8938. first question . is this correct ? or should I declare it in 8938 ? I do not have...
by maminej
Sun Apr 05, 2015 12:04 pm
Forum: Canada / United States Tax & Accounting
Topic: Should be an easy tax declaration
Replies: 12
Views: 7071

Thanks a lot Nelson, Your comments were very helpful. I think I am done with my federal declaration. I prepared a 1040NR with zero income as I don't have any us connected income during my non resident period. I will use this form as as the dual-status statement. I prepared a 1040 reprting my US wage...
by maminej
Sat Apr 04, 2015 10:14 pm
Forum: Canada / United States Tax & Accounting
Topic: Should be an easy tax declaration
Replies: 12
Views: 7071

I think I got confused on this... I think the "Income that is not effectively connected with a trade or business" is the income that's earned while one lives in the US but not connected with US trade to business. In this case, my T4 should not go there... I still can't figure where or if I...
by maminej
Sat Apr 04, 2015 10:07 pm
Forum: Canada / United States Tax & Accounting
Topic: Should be an easy tax declaration
Replies: 12
Views: 7071

I was reading the 1040NR instructions and found the answer to my previous question: "Income that is not effectively connected with a trade or business in the United States for the period of nonresidence is subject to the flat 30% rate or lower treaty rate. No deductions are allowed against this...
by maminej
Sat Apr 04, 2015 9:49 pm
Forum: Canada / United States Tax & Accounting
Topic: Should be an easy tax declaration
Replies: 12
Views: 7071

Hello,

Another question..

I am filing dual status, currently working on the 1040NR for the non resident period.
Should I report my Canadian income in this form ? ( as foreign income ). I have a T4 for wages I earned in 2014 up to Aug. 31st.
by maminej
Tue Mar 31, 2015 11:25 pm
Forum: Canada / United States Tax & Accounting
Topic: Should be an easy tax declaration
Replies: 12
Views: 7071

[quote="nelsona"]You don't have any choice for the Cdn declaration. You left on a certain day, which is afact, and must file with that departure date.[/quote] Hi, Thanks again for the reply. Just to confirm the proper way of filing Canadian declaration. I should file as resident and declar...
by maminej
Mon Mar 30, 2015 8:12 pm
Forum: Canada / United States Tax & Accounting
Topic: Should be an easy tax declaration
Replies: 12
Views: 7071

HEllo

Thanks a lot for your recommendation.
Can you please tell me which way is better for the canadian declaration ?
Also, I read that TurboTax does not support 1040NR. what software do you guys recommend ?

Best regards,
AJ
by maminej
Thu Mar 26, 2015 10:18 am
Forum: Canada / United States Tax & Accounting
Topic: Should be an easy tax declaration
Replies: 12
Views: 7071

Should be an easy tax declaration

Hello everyone, I moved to US with all my family in september 2014 on TN-visa ( TD for wife and kid). I returned my canadian driver license, health card, closed my credit cards and bank accounts, do not have investment or house in Canada. Am I considered as Non resident for tax purposes ( canada ) ?...