RESP's and possible tax implications for dual citizen child
Moderator: Mark T Serbinski CA CPA
One more question Nelsona, does it matter when considering RESP reporting requirements that when I submit my US tax return 1040, that I take an exemption for my husband? I file married separate and my Canadian citizen husband does have an ITIN in order for me to do that. We've never filed jointly and we never plan to. He has no US Income and no US tax reporting obligations.
R.A.
Taking your Cdn dependents as an exemption, which is your right under the treaty , does NOT raise any reporting obligation on thier part. You are still filing married filing separately.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Of course, there is little reason to take your spouse as a dependent, unless you live in US.
Otherwise, I can't see any sitiuations where claiming or not claiming him would make a differnce on your US tax return.
Otherwise, I can't see any sitiuations where claiming or not claiming him would make a differnce on your US tax return.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best