Search found 10 matches
- Mon Apr 16, 2018 12:45 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting capital gain/loss on interest income in GIC
- Replies: 4
- Views: 2187
Reporting capital gain/loss on interest income in GIC
Hi Nelsona, Wondering if you can please guide here. With regards to GIC in TFSA account, Value was 1200 CAD on Dec 31st 2016: 1 USD = 1.3460 CAD Value was 1250 CAD Sold on May 3rd 2017: 1 USD = 1.297 CAD Interest to be declared is 50CAD (converted into USD with rate on May 3rd) on 1040. could you pl...
- Sun Apr 15, 2018 11:07 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting interest in RRSP
- Replies: 2
- Views: 1568
Interest in RRSP
Hi Nelsona,
I would really appreciate your guidance here. I am sorry if these questions have come up before but I cannot seem to find them.
Thank you,
Sam
I would really appreciate your guidance here. I am sorry if these questions have come up before but I cannot seem to find them.
Thank you,
Sam
- Sun Apr 15, 2018 7:09 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting interest in RRSP
- Replies: 2
- Views: 1568
Reporting interest in RRSP
Hi, I am using Turbotax to file returns. (1) In my TFSA account, I have 3yr GIC (started in 2014 when I wasn't US resident) which matured in 2017 (when I was a US resident). In my US income tax return for 2017, do I report the total interest received in 2017 (from 3years) or split it across 3years a...
- Fri Mar 16, 2018 11:09 am
- Forum: Canada / United States Tax & Accounting
- Topic: TN visa holder filing US income tax return
- Replies: 7
- Views: 4047
TN visa holder filing US income tax return
Thanks Nelsona for your help.
- Wed Mar 14, 2018 8:47 am
- Forum: Canada / United States Tax & Accounting
- Topic: First year US tax resident
- Replies: 11
- Views: 4961
First year US tax resident
Very quick question please and this may have been answered before so I do apologize. Is filing a departure return = filing a Canadian return + specifying the date when one becomes non-resident of Canada. Kindly confirm and thank you very much (awesome forum).
- Wed Mar 14, 2018 8:40 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian citizen with TN visa, first time filing in US
- Replies: 2
- Views: 1991
TN visa holder filing US income tax return
I have similar situation (Canadian citizen on TN visa) where I didn't intend to stay in US for long but because of job kept living here (ultimately would go back to Canada). Additionally I have house and savings account (CAD and a US interest savings account with TD where I have kept USD). In order ...
- Wed Mar 14, 2018 8:26 am
- Forum: Canada / United States Tax & Accounting
- Topic: Rental income from Canada
- Replies: 13
- Views: 5217
Rental income
Thank you so much Nelsona for the response. Since I didnt claim depreciation in 2016 return, in my 2017 return, could I claim for 2016 and 2017 or would I need to file an amended return for 2016 for Georgia?
Thank you.
Thank you.
- Wed Mar 14, 2018 8:19 am
- Forum: Canada / United States Tax & Accounting
- Topic: TN visa holder filing US income tax return
- Replies: 7
- Views: 4047
TN visa holder filing US income tax return
Thank you for the reponse Nelsona. If I may ask further, - had I not declared myself as non-resident through NR73, would I have been able to justify not being present in Canada throughout and at the end of calendar year (hence not being a resident), still received rental income + lived and earned in...
- Wed Mar 14, 2018 2:27 am
- Forum: Canada / United States Tax & Accounting
- Topic: Rental income from Canada
- Replies: 13
- Views: 5217
Rental income
If the NET rental income is Zero, then could you please advise if one has to still claim depreciation (on US tax return) and also file 1116?
- Wed Mar 14, 2018 1:22 am
- Forum: Canada / United States Tax & Accounting
- Topic: TN visa holder filing US income tax return
- Replies: 7
- Views: 4047
TN visa holder filing US income tax return
Hi there, (1) I moved from Canada to US for job and when I filed my NR73 for residency status determination, I was termed as deemed non-resident of Canada even though I have a house, TFSA, RRSP, debit and credit cards, and driver's license in Canada. Do you agree with the assessment or should I writ...