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.
Moderator: Mark T Serbinski CA CPA
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Hi, I am a Canadian TN Visa holder and a resident of US (not green card but only resident for tax purpose). I had TFSA GIC account with Canadian institution. When they matured last year, I closed the account. Do I need to report the proceeds that I received from closing TFSA (principal+interest) as income and add it to the W2 reported income?