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thanks Nelsona

Thank you for the quick response Nelsona.


1. So for Canadian bank account and TFSA, I can keep them in Canada. But while filing tax in US? Should I report them and pay taxes on the interest?
2. Regarding RESP, I don’t have any relatives in Canada So what can be my option?
3. Regarding the ...

HI Nelsona,
Thank for your input earlier. I filed my US tax as non resident , Single and Canadian tax as resident, joint for the year 2015.

Now this year, i was planning on going back to Canada but instead I will be staying here as my employer offered me fulltime and also my husband got a job offer ...

Hi Nelsona, quick question.
Finally filed US tax as non resident. So will be filing canadian tax as canadian resident.

Should i report US tax refund in canadian tax filing?
If so, should i add it to my world income or should i deduct it from the foreign tax paid?

If i add it to the income i am ...

Nelsona, I am sorry to go back and forth between resident and non resident filing. But please advise on my understanding below. In a summary,
1. if I file as resident of US,
a. US:
i. Need to report US income, no need to report world income right?
ii. Fill FBAR
iii. Fill 8938 for the accounts which ...

Thanks Nelsona.

All my mutual funds are either RRSP, TFSA or RESP.
Since you said, 8621 for non RRSP, since I don't have non RRSP mutual funds I don't have to file it right?

Regarding 3520,
I only have to file part 2. As I havnt transferred any money to any of the accounts after coming here.
But ...

Thanks Nelsona. Sorry for putting quotes. didn't think of removing them earlier..

Thank you Nelsona.
I called CRA and they told me that I am a non resident of Canada. So I have to file as a resident of US. So
1. I will file 1040
2. Report foreign income in FBAR
3. Don’t have to file 8938 for any ...

[quote="nelsona"]In your complicated situation, you migt be better off filing 1040NR, since the reporting and tax associated with FBAR, FATCA, PFIC and 3520 may outstrip any tax savings from using 1040 vs 1040NR.

You can file 1040NR based on you Cdn residential ties even in 2016, I would suggest ...

[quote="nelsona"]Yes. Of couese you must report world in come for the entire year, but you then can use all the deductions credit etc, including for 2555 and Form 1116 to reduce your US tax.

Do that, and also 1040NR, and see which is less.[/quote]

Thank you. Then i also need to complete FBAR right ...

[quote="nelsona"]You CAN file 1040NR, but it is often better to file normal 1040 reporting world income. You are allowed to do this in any year.

In any event, IRS has 1040NR instructions, as does IRS publication 519.[/quote]

Thank you. You said that i can file 1040 at any time. Can i file this ...

HI,
Is there any online software for non resident aliens? (for 1040NR?) or is there any instructions for filling this form?

I really appreciate your help. I didn't get any response for my two previous questions. Hopefully I will get answers for this one.

I counted the days in US, it came to 158 ...

[quote="nelsona"]Please don't repost to bump your questions.

And are you the wife in this scenario? It isn't clear.[/quote]

Yes

FACTS
Wife and kid moved to US late July and wife working in US from August on a contract job which ends in dec 2016
Not sure whether will move back to Canada or stay in US after 2016
Husband working in canada
Wife has TFSA(~ 20) RRSP(~60)RESP ( ~10) and Canadian bank account(~10)
Have house in ...

FACTS
Wife and kid moved to US late July and wife working in US from August on a contract job which ends in dec 2016
Not sure whether will move back to Canada or stay in US after 2016
Husband working in canada
Wife has TFSA(~ 20) RRSP(~60)RESP ( ~10) and Canadian bank account(~10)
Have house in ...

FACTS
Wife and kid moved to US late July and wife working in US from August on a contract job which ends in dec 2016
Not sure whether will move back to Canada or stay in US after 2016
Husband working in canada
Wife has TFSA(~ 20) RRSP(~60)RESP ( ~10) and Canadian bank account(~10)
Have house in ...