Search found 16 matches
- Mon May 04, 2020 2:19 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Moved back to canada, 1040 departure year + RRSP contributions
- Replies: 1
- Views: 1569
Moved back to canada, 1040 departure year + RRSP contributions
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 question is...
- 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: 2841
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 ?
- 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: 2841
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...
- 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: 2841
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...
- 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: 7
- Views: 4619
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...
- 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: 2146
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...
- 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: 7
- Views: 4619
- 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: 8631
- 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: 8631
- 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: 7
- Views: 4619
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...
- Fri Jan 26, 2018 5:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Software suggestions for 1040, form 2555 & possible 1116
- Replies: 18
- Views: 12406
- 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: 4698
- 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: 4698
- 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: 4698
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 ...
- 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: 4698
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...