Search found 18291 matches

by nelsona
Mon Apr 16, 2007 12:59 pm
Forum: Canada / United States Tax & Accounting
Topic: Nonresident alien - reporting cap gains dist/dividends
Replies: 13
Views: 8277

The treaty does indeed class these workers as Cdn residents. (Art.IV(5)) However, the non-discrimination clause (especially para. 2 which deals with 3rd country nationals) would apply here, if she wanted. In any event, if the poster does not wish to avail herself of that provision, she would report ...
by nelsona
Mon Apr 16, 2007 12:28 pm
Forum: Canada / United States Tax & Accounting
Topic: Nonresident alien - reporting cap gains dist/dividends
Replies: 13
Views: 8277

I explained how you report your income: on a 1040, just like everyone else who lives in US!! 1040NR is not for you. As you ahve seen it is disadvantageous, thus you are allowed to file 1040. If you need instructions on how to fill out 1040, then use software. Just remember to report all your income ...
by nelsona
Mon Apr 16, 2007 10:56 am
Forum: Canada / United States Tax & Accounting
Topic: AMT QUESTION
Replies: 1
Views: 2161

Yes, it makes sense.
by nelsona
Mon Apr 16, 2007 5:20 am
Forum: Business & Personal Immigration to the United States
Topic: Volunteering
Replies: 3
Views: 4804

You can volunteer for an organization which normally uses volunterrs, in a position that is typically unpaiud. For example, you could volunteer for Red Cross, but not in a job that they normally pay for. You couldn't volunteer for your local city hall for example, to do web services, since this is s...
by nelsona
Mon Apr 16, 2007 5:00 am
Forum: Canada / United States Tax & Accounting
Topic: Can interest from Canada be excluded using 2555?
Replies: 7
Views: 4722

allen, did you complete your Cdn taxreturn? On it you will find all sorts of income,wages, cap gains, dividends, UI, rental and interst. ALL these incomes are reportable in US/ All of these were taxable in canada too. You DID pay Cdn tax on your interest: it's part of the total tax you paid on your ...
by nelsona
Mon Apr 16, 2007 4:42 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian Resident: US capital gains, 1040NR and Canadian Tax
Replies: 37
Views: 27996

I misspoke above. So long as you are not a GC holder or US citizen, you can exclude the gain on 1040 (in the year you move). If you wre GC or USC, you do not get any tax benefit, becuase: What tax would you have paid in canada? the cap gains in Canada is based on the value the day you moved back, no...
by nelsona
Sun Apr 15, 2007 10:16 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian Resident: US capital gains, 1040NR and Canadian Tax
Replies: 37
Views: 27996

Since you are filing a 1040NR, you can expalin it there.

If you file a 1040, then you can't claim this exemption.
by nelsona
Sun Apr 15, 2007 10:14 am
Forum: Canada / United States Tax & Accounting
Topic: Nonresident alien - reporting cap gains dist/dividends
Replies: 13
Views: 8277

First off, the good news is that you are NOT a US non-resident, since you live in US. I say that this is good news, because this allows you to file a regular 1040 AND allows you to NOT report your Govt income. Your standard deduction (you and your pouse should file jointly), plus your exemptions, sh...
by nelsona
Sat Apr 14, 2007 6:20 am
Forum: Canada / United States Tax & Accounting
Topic: The "valid passport" dilemma
Replies: 7
Views: 5726

AKK = ALL
by nelsona
Sat Apr 14, 2007 6:19 am
Forum: Canada / United States Tax & Accounting
Topic: The "valid passport" dilemma
Replies: 7
Views: 5726

The passport rule applies to AKK.

However, a GC is acceptable. And PC is correct that Airlines do not require PP, just photo ID. They are, however, required to ensure that passengers they check-in have the required immigration documents to travel to their destination(s).

Otherwise they pay a fine.
by nelsona
Sat Apr 14, 2007 5:15 am
Forum: Canada / United States Tax & Accounting
Topic: Using 8891 to report RESP?
Replies: 2
Views: 2542

Whoever told you this was incorrect, both for the reason they gave you and due to the way IRS views RESP. If indeed the RESP can be rolled into an RRSP (which requires a pretty narrow set od=f circumsttnces) then I would suggest that you do this, and then file 8891. For now, continue to file 3520 --...
by nelsona
Sat Apr 14, 2007 5:11 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian Non residency determination
Replies: 17
Views: 12675

You MUST report he income, otherwise you cn't file jointly. That the definition of MFJ.
by nelsona
Fri Apr 13, 2007 3:23 pm
Forum: Business & Personal Immigration to the United States
Topic: Legal costs for visa when switching employers
Replies: 3
Views: 5143

What does your lawyer say.

That is a hint to get a lawyer.
by nelsona
Fri Apr 13, 2007 3:22 pm
Forum: Canada / United States Tax & Accounting
Topic: 401K Withdrawl for Canadian resident. Help needed!
Replies: 4
Views: 3028

Nope.
by nelsona
Fri Apr 13, 2007 3:00 pm
Forum: Canada / United States Tax & Accounting
Topic: 401K Withdrawl for Canadian resident. Help needed!
Replies: 4
Views: 3028

Just to clarify what you accountant said, or should have said: You DO have to report and pay the 401(K) withdrawl in US, but you ALSO have to report it in canada. You also have the 10% early withdrawl penalty in US. Don't forget this. Other than the tax credit for the tax (but not the penalty) you p...