Then you can claim medical expenses on the NR return, but since you are not reporting world income, your deductions may be limited.
If it is not working with the software you are using, contact them.
Search found 18295 matches
- Sat Mar 30, 2024 5:42 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Claiming medical, disability by NR Canadian Selling Rental Property
- Replies: 7
- Views: 744
- Sat Mar 30, 2024 5:39 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US taxes on Canadian RRSP Withdrawals
- Replies: 8
- Views: 338
Re: US taxes on Canadian RRSP Withdrawals
No. You need to have foreign income that is taxable in US. In this case it would be best to take the 25K of tax as a deduction.
- Sat Mar 30, 2024 5:37 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Can CDN resident just file full-year 1040 instead of dual-status return?
- Replies: 11
- Views: 2768
Re: Can CDN resident just file full-year 1040 instead of dual-status return?
This thread is for those who have renounced their US citizenship during the tax year. Is this your case?
- Fri Mar 29, 2024 2:37 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Claiming medical, disability by NR Canadian Selling Rental Property
- Replies: 7
- Views: 744
Re: Claiming medical, disability by NR Canadian Selling Rental Property
What capital gains and interest could you be including? Interest is tax-free for non-residents, and cap gains (except for selling Cdn real estate) are not taxable in Canada for US residents.
Just file your 216.
Just file your 216.
- Fri Mar 29, 2024 2:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 1116
- Replies: 3
- Views: 786
Re: Form 1116
Yes, you could do that, but realize that there is no US tax to claim against. You will be building up some FTC for POSSIBLE future use, but will not get any credit this year, as none of it was taxable in US. The GROSS amount on line 1a of 1116 would still be ZERO, but you would have Cdn tax to repor...
- Fri Mar 29, 2024 2:30 pm
- Forum: Canada / United States Tax & Accounting
- Topic: NR7 timing
- Replies: 9
- Views: 1220
Re: NR7 timing
So, as I said, you were withheld correctly. You did not correctly make your withdrawal periodic, thus you were not entitled to 15% rate on the first 10%. Only withdrawals made up to the 10% mark are withheld at 15%. Any withdrawal that puts you over the 10% mark is FULLY TAXED at 25%. Better math ne...
- Thu Mar 28, 2024 5:04 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Claiming medical, disability by NR Canadian Selling Rental Property
- Replies: 7
- Views: 744
Re: Claiming medical, disability by NR Canadian Selling Rental Property
216 election is reported on form T1159, which is VERY SHORT.
- Thu Mar 28, 2024 4:59 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Claiming medical, disability by NR Canadian Selling Rental Property
- Replies: 7
- Views: 744
Re: Claiming medical, disability by NR Canadian Selling Rental Property
No. The 216 return has no provision for lowering taxes other than RRSP contributions, FHSA contributions or some legal fees. 216 is designed to determine taxation of rental income and expenses only. If you have other income in Canada that would be reportable on a non-resident return (including a 217...
- Thu Mar 28, 2024 4:55 pm
- Forum: Canada / United States Tax & Accounting
- Topic: NR7 timing
- Replies: 9
- Views: 1220
Re: NR7 timing
How many withdrawals di you make?
- Wed Mar 27, 2024 4:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: NR7 timing
- Replies: 9
- Views: 1220
Re: NR7 timing
Be careful. If you received this payment in ONE withdrawal, you were correctly withheld. Hope you didn't goof on your withdrawal request. To get the 15%, you must FIRST make withdrawals that total less than 10% of your Beginning of year value. Then, if you need more, all withdrawals that put you ove...
- Tue Mar 26, 2024 9:31 pm
- Forum: Canada / United States Tax & Accounting
- Topic: CPP Disability Child Benefit as Non-Resident of Canada
- Replies: 5
- Views: 779
Re: CPP Disability Child Benefit as Non-Resident of Canada
Reread what I asked" If it was NOT taxable when you lived in canada (I presume you have had this type of income in the past) then it is not if you are in US. If it WAS taxable in Canada, then it is taxable in US the same wat that particular type of income. You will need to figure out how SS Dis...
- Tue Mar 26, 2024 2:52 pm
- Forum: Canada / United States Tax & Accounting
- Topic: CPP Disability Child Benefit as Non-Resident of Canada
- Replies: 5
- Views: 779
Re: CPP Disability Child Benefit as Non-Resident of Canada
Article XVIII.5(b) would apply in this case IF the that benefit would not be taxable in Canada when you lived there.
Was it?
If not, it is not taxable in US either.
If it was, then it would fall under the taxation rules for Social Security Disability payments.
Was it?
If not, it is not taxable in US either.
If it was, then it would fall under the taxation rules for Social Security Disability payments.
- Tue Mar 26, 2024 12:06 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRA to RRSP transfer
- Replies: 3
- Views: 739
Re: IRA to RRSP transfer
Correct. For this type of transfer to work, you must have a good income in Canada.
- Tue Mar 26, 2024 12:04 pm
- Forum: Canada / United States Tax & Accounting
- Topic: When To Report Form 8833 To IRS
- Replies: 4
- Views: 824
Re: When To Report Form 8833 To IRS
the penalty for not filing 8833 is only for a very limited types of elections, which this isn't one of them.
- Tue Mar 26, 2024 12:03 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US dividend stocks in TFSA
- Replies: 4
- Views: 763
Re: US dividend stocks in TFSA
Sorry, not going to read this. Hope you can figure it out. Next year start thinking about this in December