Search found 5 matches

by melissadkb
Sun Jan 19, 2020 10:55 pm
Forum: Canada / United States Tax & Accounting
Topic: Calculating ordinary gain from currency exchange rate Canadian mortgage
Replies: 0
Views: 7428

Calculating ordinary gain from currency exchange rate Canadian mortgage

Hello,

I am a US resident. I have a Canadian property with a mortgage from Canadian bank since June 2010.
I am trying to find out the correct way to calculate gain/loss from currency exchange rate to insert in Form 4797 for 2019.
Can somebody help please? Really apprecuate it! Thanks!
by melissadkb
Tue May 14, 2019 9:20 am
Forum: Canada / United States Tax & Accounting
Topic: Prior year amendment
Replies: 0
Views: 7347

Prior year amendment

Hello, I need to amend my 2017 return - include income and report a partnership I din't know must be reported. Can I just file 1040X with the appropriate schedules and changes? I was advised to enter IRS program to become tax compliant for past unreported income and tax forms, but it requires multip...
by melissadkb
Fri Apr 12, 2019 11:21 am
Forum: Canada / United States Tax & Accounting
Topic: CAD citizen/US resident/with T4 and RL1 which country taxes first
Replies: 3
Views: 1855

Re: CAD citizen/US resident/with T4 and RL1 which country taxes first

So if I have for example $50,000 gross wages from Canada (and this is my worldwide income), I enter it on line 150 and on line 256 of the federal return? This will bring my taxable income at $0 and I will have no taxes payable to Canada. Do I send a $0 return? I read the tax treaty and found Article...
by melissadkb
Thu Apr 11, 2019 5:25 pm
Forum: Canada / United States Tax & Accounting
Topic: CAD citizen/US resident/with T4 and RL1 which country taxes first
Replies: 3
Views: 1855

CAD citizen/US resident/with T4 and RL1 which country taxes first

Hello, Canadian citizen with US residency. I work remotely for my long-time Canadian employer (Quebec), so 100% of my income is from Canada. I still receive T4 and RL1. On my T4, the Province of employment code is ZZ, there is no tax withheld. On my RL1 there is a Quebec income tax withheld. I spoke...
by melissadkb
Tue Mar 07, 2017 9:48 am
Forum: Canada / United States Tax & Accounting
Topic: Cdn filing as US resident, T4, real estate
Replies: 0
Views: 2710

Cdn filing as US resident, T4, real estate

Hello, My situation is a little bit weird. We are Canadian citizens, were living in Quebec. Since mid 2015, my husband is in US on TN visa and me - on TD. I continued to work remotely for my Canadian employer, get paid based on my SIN and receive a regular T4 at the end of the year, with all Cdn tax...