Greg is exactly correct.
Any RRSP ammount not included in income in Canada is not included in income in US, by treaty.
Search found 18244 matches
- Wed Mar 01, 2006 9:43 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US tax issues from transfer of RRSP on marriage breakdown?
- Replies: 3
- Views: 2910
- Wed Mar 01, 2006 9:41 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Disability Income
- Replies: 4
- Views: 2441
- Wed Mar 01, 2006 3:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 401 withdrawl into Canada
- Replies: 6
- Views: 4813
The poster is Cdn. The initial withholding made by the firm is of little importance in determining one's final tax liability. If too much is withheld, you will get it back when you file your 1040NR; if not enough is withheld, IRS will demand more. And CRA will also decide whether the US tax was corr...
- Wed Mar 01, 2006 12:03 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Selling RRSP at a Loss
- Replies: 10
- Views: 6559
- Wed Mar 01, 2006 7:39 am
- Forum: Canada / United States Tax & Accounting
- Topic: Independent contractors - Canadian
- Replies: 2
- Views: 2915
This is a visa question. But, you are quite free to get multiple TNs for multiple 'employers', and these can be 'clients' as well. You can be paid on a 1099 basis and still get TNs, as long as you get a TN letter saying that the firm is paying and hiring YOU, not some firm or corporation owned by yo...
- Tue Feb 28, 2006 5:42 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Nurses working in US, question
- Replies: 7
- Views: 4142
- Tue Feb 28, 2006 5:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Selling RRSP at a Loss
- Replies: 10
- Views: 6559
Sorry, Since you were a US citizen, book value and cost basis mean nothing. Your allowable excluded RRSP income is ONLY your contributions. Any growth, from day one, regardless of where you lived, in taxable in US So, for you, the difference between 16a and 16b should be the total of your contributi...
- Tue Feb 28, 2006 5:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Nurses working in US, question
- Replies: 7
- Views: 4142
If you were sophisticated enough to try to claim a foreign tax home when you were not filing taxes at this home then you are sophisticated enough to take some rather mild criticism. I would suggest going back through all the years that you did not file in canada, and do so, using your US tax as a cr...
- Tue Feb 28, 2006 4:45 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to tell if tuition or student loan is deductible?
- Replies: 5
- Views: 3961
- Tue Feb 28, 2006 3:40 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to tell if tuition or student loan is deductible?
- Replies: 5
- Views: 3961
FAFSa says what schoos are eligible for US-sponsored student aid
http://www.fafsa.ed.gov/FOTWWebApp/FSLookupServlet
You could claim it, but be prepared to have it rejected.
http://www.fafsa.ed.gov/FOTWWebApp/FSLookupServlet
You could claim it, but be prepared to have it rejected.
- Tue Feb 28, 2006 2:53 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to tell if tuition or student loan is deductible?
- Replies: 5
- Views: 3961
The vast majority of Cdn Universities participate in these programs (if they have any US students they almost surely do). Now, AU being an on-line University may not qualify for some of the programs sponsored by the US: lifetime,HOPE etc, and the fact that you haven't readily found your answer is pr...
- Tue Feb 28, 2006 12:25 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Selling RRSP at a Loss
- Replies: 10
- Views: 6559
Sounds about right. You owe tax on the interest that you defered so far, regardless of which deferral mechanism you used. Rev Proc 89-45 WAS your deferral mechanism, so you have deferred for those years. If you didn't report income in the other years, your deferral is assumed to have continued. I wo...
- Tue Feb 28, 2006 12:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Nurses working in US, question
- Replies: 7
- Views: 4142
- Tue Feb 28, 2006 8:29 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Nurses working in US, question
- Replies: 7
- Views: 4142
- Tue Feb 28, 2006 8:24 am
- Forum: Canada / United States Tax & Accounting
- Topic: best way to convert Canadian$ to US$
- Replies: 19
- Views: 17276
Anyone from canada sending you money, should do the conversion in Canada, and send you a US cheque, or draft. This will always be cheaper than doing the conversion at a US bank. There are other more sophisticated ways of doiing this, but they all require some form of account in Canad in your name, s...