Serbinski Accounting Firms

Hello, I'm on a TN1 Visa working in the U.S. I am returning to Canada permanently and would ideally purchase a home before leaving the U.S. Since I'd still be. a U.S. resident when that purchase was made, is there anything I should be aware of? I.e., will there be any additional cross-border tax imp...

Hi Nelson,

Thanks for all the information provided below. Very helpful.

For form 3520, can you advise on what section I would fill out for an inheritance? It looks like Section IV (gifts or bequests) but could fall under Section III (beneficiary of trust).

Thanks again.

Hello, I am a Canadian citizen living in U.S as a permanent resident. A relative in Canada died in 2018 and I received an inheritance. Due to the time gap between this relative's death and the time I received the inheritance, there were investment gains on the estate account. I've since received T4A...

Nelson, thanks for the response. I wasn't at all aware I couldn't maintain or create an investment brokerage account in Canada. Much appreciated.

Hello, I am a Canadian on a TN visa in the US and, have been here a year, and expect to remain for at least 5 more years. I'm considered a non-resident of Canada for income tax purposes. I recently received an inheritance from a deceased relative and am making plans to invest that money. I have even...

Hi all, I just moved to Colorado permanently on a TN Visa and it appears I will be taxed in 2017 as a non-resident alien due to failing the substantial presence test. Come 2018, I will be considered a resident alien. I wanted to purchase a home in 2017 and am wondering if I will face unforeseen diff...

Thanks nelsona. I'm not reporting as dual status but as non-resident. I was in the U.S. less than a year total on temporary work. In 2015 I filed all my U.S. income under 1040 NR as non-resident, filled out the 8833 treaty form, reported the foreign tax on my T1 and effectively paid all my tax to Ca...

I worked in the U.S from Jan-April 2016 under a TN Visa before moving back to Canada in May 2016. I am wondering whether I should bother applying for a child tax credit on the 1040 NR. It'll give me a larger U.S. refund of course, but as I understand it that's just extra money I'll have to pay CRA o...

Thanks Nelson. You've convinced me that I don't know what I'm doing and that I should book a consultation with Serbinski. Had I not found this forum I would have filed taxes dreadfully wrong.

This is very illuminating. I see two possible approaches for filing, both of which don't include a 217 for simplicity. Hopefully one of these is correct. 1. I report everything in 2015 on the 1040 married filing jointly. We also file as non-residents on our respective T1's and report income earned i...

It was mat leave. She was taxed as NR.

Wow, I thought I had a handle on this. Clearly I don't. Are my wife and I not dual status aliens according to the IRS for 2015? Their instructions suggest that we don't report income outside the U.S. for the time we were non-residents (i.e. Jan-April): ----------------------------- (copied from IRS ...

Right, I need the 1040 to claim foreign tax credits. Thanks for the reminder.

Just to clarify, I only report world income earned while in the U.S., correct? Any Canadian income earned while still living in Canada (Jan-April 2015) would not be included on the 1040?

That's useful information, thanks Nelson. We've got a similar conversation going on another thread so I'll continue the conversation there.

So for example, line 39 of the 1040A: [b]"39 Add lines 37 and line 38. This is your total tax."[/b] ?