Serbinski Accounting Firms

Hi,

I left the USA (lived there a few years) and re-established residency in Canada earlier this year 2020.

I would like to file 1040 return to get standard deduction and file married joint.

My canadian income is too high to exclude completely from 1040 using foreign income exemption.

My ...

Thanks. One last thing: in my situation, can I claim Quebec Tax abattment on Federal return ?

Thanks very much Nelsona.

I did use TurboTax and filled full non-resident. It did not produce a Quebec return and actually included Releve1 tax on the federal return, which is suspicious in retrospect.

Do you have any information to confirm that this only applies to non-resident of Quebec who ...

Hi,

I'm a full-year non-resident Canadian citizen living in the US. I have filed departure returns for 2017 both at Canada Federal and Quebec levels.

I have income in 2018 which is a Bonus paid for 2017 work when. I was employed in Quebec. I received T4 and Releve1 for this income.

I have filed ...

No - your tax refund doesn't have to be reported to IRS.

What I meant is that if your canadian income is higher than the pro-rated foreign income exclusion amount on 1040, then reducing your canadian income through RRSP contributions would not reduce your US world income, and so you would not save ...

I was in the same situation as you, and I did not find any US broker that allow you to buy securities in a CAD denominated account.

I did however find a brokers that allow those two :

1) Allows to hold CAD deposits and paying some small interest rate based on BOC overnight (wire the funds in CAD ...

Right, my reply is appropriate only if canada income is too high to be excluded on 1040 using foreign income exclusion.

nelsona's answer is more appropriate in the general case

Sorry for reviving this old threat, not sure how I showed up on my front page...

[quote="nelsona"]2) yes, but only if you also reported your deemed dispositions, and your list of all assets on that date. For others, don't use artificial departure dates. If you left on the 26th, put the 26th. So you are sure the date appears on page 1, and that you personal credits were pro-rated ...

You can always reduce your Canada income for 2017 through RRSP contributions. However, you can't reduce your US income through them.

Hence, if you file 1040 in US 2017, whatever savings in Canada would be paid to US (as you declare world income), and would not bring immediate tax savings ...

I used taxact for 1040NR, could not be smoother.

Yup I knew about this one (US -> Canada), thanks for reminding.

That's kinda interesting... those Canadian securities (broad market ETFs) were in my (still open at the time) Canadian broker account in Canadian dollars when I sold (after leaving & cutting all significant ties). Hence, they are not US sourced and need no 1040NR reporting ?

This sounds like a ...

nelsona, here is a follow-up question :

- I sold my stocks 2 months after entering the US
- However, I decided to file 1040NR as it's more advantageous for me for various reasons.

I read that non-US related capital gains are not taxable on 1040NR... but where do I pay those capital gains ? It ...

Thank you, very helpful. I just found this forum and it is a gem.

I have a follow-up question, if you are willing to answer.

I have approximately 100K CAD that I would like to convert to USD to invest in my US brokerage account. I found a broker willing to do the trade at very low cost, so no ...