Hi everybody! Any help for my following question will be appreciated.
My situation is
1. dual status in 2004 (left Canada in June 1st)
2. in 2004, I have both US and Canadian income and taxes
3. my US tax was only on my US income (because I'm dual status, no need to report Canadian income as world wide income)
4. due to my family tie in 2004, my Canadian tax was on both US and Canadian income and deducted the US taxes that I have paid (sent W2 and 1040 to CRA)
Now my question is because my US income was taxed in both US and Canada, can I send an amendment 1040X for year 2004 to IRS to claim some deductions or foreign tax credit?
Thanks very much.
Taxbz
dual status and family tie
Moderator: Mark T Serbinski CA CPA
No. Since, as you said, you didn't report your Cdn income on your part-year 1040, you can't deduct any foreign taxes, either.
Had you filed a full-year 1040, including your Cdn income, then you could have gotten credit.
You are probably better off the way you did it.
Had you filed a full-year 1040, including your Cdn income, then you could have gotten credit.
You are probably better off the way you did it.
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
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Mark T Serbinski CA CPA
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It may not be so simple...
In the year you move into the U.S. you have a choice of filing either as:
a) a dual status taxpayer (including only income from the date of entry to the U.S.) - but you cannot claim a standard deduction or file jointly.
b) elect to be treated as a full year U.S. resident.. - where you include world income, deduct the earned income exclusion as applicable, claim a foreign tax credit for non excluded income if applicable - This option allows you to file jointly, and to use a standard deduction.
Unless you calculated your taxes both ways, you cannot determine which alternative results in the least amount of tax.
The good news is that you can amend your return to make the full year election if you filed as a dual status alien (although you cannot refile to rescind the election.)
In the year you move into the U.S. you have a choice of filing either as:
a) a dual status taxpayer (including only income from the date of entry to the U.S.) - but you cannot claim a standard deduction or file jointly.
b) elect to be treated as a full year U.S. resident.. - where you include world income, deduct the earned income exclusion as applicable, claim a foreign tax credit for non excluded income if applicable - This option allows you to file jointly, and to use a standard deduction.
Unless you calculated your taxes both ways, you cannot determine which alternative results in the least amount of tax.
The good news is that you can amend your return to make the full year election if you filed as a dual status alien (although you cannot refile to rescind the election.)
Mark