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Do I simply input the taxes paid in the US, or is there a more complicated calculation involved?

I have a follow-up question about double taxation of the 401(k) I withdrew after moving back to Canada. Obviously, Canada wants to tax it since I was back in Canada when I received it (even though I made the request before leaving the US). I've already paid 20% US taxes when I withdrew. I'm preparin...

I withdrew after leaving. Was apparently not possible to withdraw while still being employed there, in the US. But I seem to have already paid 20% Federal Income Taxes when it was withdrawn in the US. Makes sense? But yes, I've made more than that in Canada since I returned.....so I will try to go f...

I'm afraid to admit the money is already in my bank account in Canada. I cashed out and transferred. It was not a huge amount though (20K). Still, I'd rather not be double taxed on it....

Many thx again.

1. Hard to tell. How is appreciation calculated in such a case? We did end up selling much higher than listing price. And brokerage fees were minimal since we did not use an agent (but we did pay commission to the buyer's agent). But then again the offer on the house was accepted by the moment my wi...

Many thanks. 1. So it does not matter that my wife sold her share of the house two weeks after having re-established Cdn residency? Or meaning we, as a family, re-established residency on 8 August? 2. Okay. So I'll file full year in the US. And in Canada/Quebec, I'll file as returning resident start...

I should also perhaps mention that we had the house for just a little under two years. So we only qualify for a partial exclusion of gain.

Hi nelsona, Our family's been living and working in the US for 3 years on a GC. I moved back to Canada in August and do not intend to move back to the US anytime soon. Last day working in the US was 31 July and I started my new job in Canada right on 1 August. We've sold our house in the US on 7 Aug...

Thanks.

1. It would be 2 full years at the end of Sept. So given your response to '2', maybe waiting for the full 2 years would make sense?
3. You mean I would transfer the funds to Schwab long-term, or just for long enough to cash out once I'm in Canada? Not sure I understand.

Hi, My family and I have been living in the US on a green card for almost three years. We're planning a move back to Canada (Quebec) in the coming weeks. Here are a few questions, some fairly basic but I could not find the answers scrolling through past posts. 1. We will sell our house in the US. We...

Ok, got it. thanks

Many thanks for the clarification, now I get it. Although I sincerely hoped I would not have to prepare the Cdn returns before....I guess I can simply 'mock' the return in Ufile for now, since the Cdn tax season is a bit later, correct?

Not sure I get it. What do you mean by 'you see will be zero'? I already how much I paid in taxes, since I only received one check with a slip. Can I simply add taxes paid (Cdn + Qc) + EI + CPP) and take credit for this?

Thx. Do I report the gross or the net salary to the US? It is a little under 10K. In the US, how do I 'take credit for any tax you pay in Canada'? Doable with turbotax? In Canada, what do you mean by I can 'exclude it completely'?

Hi, I'm a Canadian living in the US on a Green card. I'm currently preparing my US tax return. In 2019, I received a grievance settlement for work which had been done prior to leaving Canada. Almost half of it went out in taxes to both federal and Quebec govt when I received the check. Now, do I nee...