Canadian Student in USA

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

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jmagnolia
Posts: 2
Joined: Mon Jan 20, 2020 5:05 pm

Canadian Student in USA

Post by jmagnolia »

Hello, I am a resident of Canada but was a student in CT, USA in 2019. I have been a student in the USA since 2014. I received income of approx. 50,000 USD through my internship and part time work during 2019 at a firm in CT, USA. I also have a TFSA in Canada that I received income on and received a small amount of income from my Canadian brokerage account. I was on a student visa, F-1, the entire time. I intend to stay in the USA for the foreseeable future. I have a few questions as tax season is approaching.

1. Do I have to declare all my income on both my USA and Canadian returns? How does the treaty work? Is there any benefit to my taxes cause I was a student?

2. Should I liquidate my TFSA and Canadian brokerage and move it to the USA if I intend to stay in the USA?
nelsona
Posts: 18314
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Canadian Student in USA

Post by nelsona »

What was your Cdn filing status for the past five years?
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
jmagnolia
Posts: 2
Joined: Mon Jan 20, 2020 5:05 pm

Re: Canadian Student in USA

Post by jmagnolia »

I only filed a Cdn return in the last couple years but Canadian citizen
nelsona
Posts: 18314
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Canadian Student in USA

Post by nelsona »

So you continue to file in Canada as a (deemed) resident, until you are considered resident of US, which is typically after 5 years on F1.

You probably should also be filing a 1040NR for the years you earned income in US as non-resident student.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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