Serbinski Accounting Firms

Hi,

I'm a US citizen living in Canada. When computing the Canada FTC, can the Obamacare tax (paid to the US on form 8960) be included? There seem to be conflicting opinions on this. Some people have been denied a FTC for the Obamacare tax by the CRA, while others seem to have claimed it.

If ...

Ok, great. Thanks very much for the clarification!

I'm a US citizen living in Canada. From prior forum queries, my understanding is that taxes paid to a US state can be claimed for a FTC in Canada (in addition to Social Security and Medicare taxes). However, this seems to conflict with the general treaty principle that since a non-citizen of the US ...

Ok, got it, thanks very much for your help - much appreciated!!

I should have been more clear. I moved to Canada Jan 1, 2014, after quitting my US job (which I quit mid-Dec 2013). However, my previous job owed me wages for the time I worked there and these were paid in early 2014. Would I need to report these wages to Canada? Also, if I'm not required to report ...

Ok, great, I understand.

In filling out the RC268, the form asks for my 2014 RRSP deduction limit. 2014 was my first year in Canada, so I haven't received any Notice of Assessment from CRA. Would my RRSP deduction limit be the maximum for 2014 of 24,270? If not, and my deduction limit is zero, does ...

Thanks very much, nelsona, your reply was extremely helpful. I was not aware of the need to add back 401k contributions when reporting total Canada wages.

Also, when computing the US effective tax rate prior to any FTC, should I use the total wages after adding back 401k contributions in the ...

I'm a US citizen resident in Canada. In 2014, I had less than 10,000 in US wages (on W-2, after deducting all 401k contributions) and I paid social security taxes of about 2,000. I understand I cannot get a FTC in Canada for the taxes paid to US (both income taxes and SS taxes) since US wages are ...