1040NR vs First Year choice vs Full year 1040

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nelsona
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: 1040NR vs First Year choice vs Full year 1040

Post by nelsona »

You are not using the election to claim residency, you are merely using the election because you AREN'T (yet) resident.

As to whether you are a deemed non-resident, that doesn't have to do with the US filing choice you make, but rather if you meet the treaty definition of US resident, which begins with SPT and then includes preponderance of ties in US.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
sitimundo
Posts: 3
Joined: Thu Apr 16, 2020 1:29 pm

Re: 1040NR vs First Year choice vs Full year 1040

Post by sitimundo »

elgoog wrote:
> Yeah, I was considering filing a full year 1040 due to the stimulus check
> but since it's full year income (including income earned in Canada), it
> might not be that useful. The standard deduction would have been nice but
> the amount I would gain from claiming that deduction would be offset by any
> accountant costs ($1200+) since TFSAs have complex reporting requirements.
> Not to mention that the deadline for Form 3520 has already passed.


That's a shame. I would have thought that a credit for Canadian taxes paid + stimulus check + standard deduction would have been more helpful. TFSAs do make things more complicated.
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