Search found 15 matches

by totality6666
Tue Apr 02, 2019 10:58 am
Forum: Canada / United States Tax & Accounting
Topic: Fulll year non-resident of Canada, income in quebec, file quebec taxes ?
Replies: 5
Views: 254

Re: Fulll year non-resident of Canada, income in quebec, file quebec taxes ?

Thanks. One last thing: in my situation, can I claim Quebec Tax abattment on Federal return ?
by totality6666
Tue Apr 02, 2019 10:22 am
Forum: Canada / United States Tax & Accounting
Topic: Fulll year non-resident of Canada, income in quebec, file quebec taxes ?
Replies: 5
Views: 254

Re: Fulll year non-resident of Canada, income in quebec, file quebec taxes ?

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 reside...
by totality6666
Tue Apr 02, 2019 7:57 am
Forum: Canada / United States Tax & Accounting
Topic: Fulll year non-resident of Canada, income in quebec, file quebec taxes ?
Replies: 5
Views: 254

Fulll year non-resident of Canada, income in quebec, file quebec taxes ?

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 Cana...
by totality6666
Sun Jan 28, 2018 8:23 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian in the US contribution RRSP for the departure year
Replies: 6
Views: 1319

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 t...
by totality6666
Sat Jan 27, 2018 9:40 am
Forum: Canada / United States Tax & Accounting
Topic: CAD Investment options for Canadian in the US
Replies: 2
Views: 785

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 fro...
by totality6666
Sat Jan 27, 2018 9:31 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian in the US contribution RRSP for the departure year
Replies: 6
Views: 1319

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
by totality6666
Sat Jan 27, 2018 9:27 am
Forum: Canada / United States Tax & Accounting
Topic: Cdn non-resident renting Cdn property - forgot withholding
Replies: 13
Views: 2961

Sorry for reviving this old threat, not sure how I showed up on my front page...
by totality6666
Sat Jan 27, 2018 9:26 am
Forum: Canada / United States Tax & Accounting
Topic: Cdn non-resident renting Cdn property - forgot withholding
Replies: 13
Views: 2961

[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...
by totality6666
Sat Jan 27, 2018 9:18 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian in the US contribution RRSP for the departure year
Replies: 6
Views: 1319

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. However, i...
by totality6666
Fri Jan 26, 2018 5:32 pm
Forum: Canada / United States Tax & Accounting
Topic: Software suggestions for 1040, form 2555 & possible 1116
Replies: 17
Views: 3459

I used taxact for 1040NR, could not be smoother.
by totality6666
Thu Jan 25, 2018 11:59 am
Forum: Canada / United States Tax & Accounting
Topic: Canada departure tax -> step-up basis in US question
Replies: 9
Views: 2001

Yup I knew about this one (US -> Canada), thanks for reminding.
by totality6666
Thu Jan 25, 2018 11:19 am
Forum: Canada / United States Tax & Accounting
Topic: Canada departure tax -> step-up basis in US question
Replies: 9
Views: 2001

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 looph...
by totality6666
Wed Jan 24, 2018 10:59 pm
Forum: Canada / United States Tax & Accounting
Topic: Canada departure tax -> step-up basis in US question
Replies: 9
Views: 2001

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 seems ...
by totality6666
Sun Nov 19, 2017 1:29 pm
Forum: Canada / United States Tax & Accounting
Topic: Canada departure tax -> step-up basis in US question
Replies: 9
Views: 2001

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 worrie...
by totality6666
Sat Nov 18, 2017 6:43 pm
Forum: Canada / United States Tax & Accounting
Topic: Canada departure tax -> step-up basis in US question
Replies: 9
Views: 2001

Canada departure tax -> step-up basis in US question

Hi, I have moved to the US to work and severed all ties to Canada except for savings accounts/GICs (hence became non-resident). However, I liquidated my margin account only 2 months after entering the US, which means that I will have to pay departure tax on the assets on my last Canadian return, AND...