US slip & Canadian return

hector · Post by **hector** » Tue Apr 22, 2008 1:16 pm

A small question: I moved from US to CAN last June, but kept money in a US bank throughout year. The interest slip they sent me totals all the money I received for the year. On my Canadian return, I've only declared the amount they paid me after I became a resident of Canada. When I attach the bank slip, do I need to attach a note explaining why I've only declared part of the amount?

nelsona · Post by **nelsona** » Tue Apr 22, 2008 2:07 pm

You don't attach 1099s to your Cdn return. You aonly attach 1040 and W-2.

canuck2007 · Post by **canuck2007** » Wed Apr 23, 2008 9:42 pm

"[i]You don't attach 1099s to your Cdn return. You only attach 1040 and W-2."[/i] Do you mean you don't have to report US interest as income for canadian taxes?.....I am in the same boat. I have some 1099's from my US bank.

Thanks.

nelsona · Post by **nelsona** » Thu Apr 24, 2008 8:31 am

What did I say: you do not ATTACH THE 1099.

Cdn residents are obliged to report ALL interest worldwide.

Even most Cdns don't get a slip for their interest from cdn banks. So what?

It still has to be reported.