Hi,
I need help figuring out how to file both Canadian and US returns.
Information
1) I worked in the US from Jan1-Mar.31/04 on a H1-B visa.
2)I'm a Canadian citizen and reestablished residency in Canada since Apr 4/04. After which I received UI benefits from California and worked on a contract from a Cdn employer for $2300.
3) In June, I exercised and sold stock options (same day) from my US employer which are reported on my W-2.
4) The same employer screwed up administratively on the stock options owed to me so in June/July they compensated for my lost opportunity and reported it on a 1099-MISC as non-employment income.
4) From July-Oct 31/04 I returned to the US on a TN-1 visa to work. Gross $25000
5) From Nov 1 - Dec 31/04 I was back in Canada with my restarted UI claim.
6) I was in the US for 220 days in 2004 and filed a 1040 as a resident in 2003.
Questions
a)How should I file in the US? as a resident or non-resident?
b)Is there an income that I can exempt from either US or Cdn return?
c)How do I report my stock options? As US based income or non-business related income for a non-resident?
d) Can someone list the forms that I need to complete and send in?
I've been working on this for 4 days straight and I've got a handle on how to report the forein tax credits back and forth but I'm worried that I'm not reporting the income in the proper places.
Thanks!
Adrienne
Dual Resident Filings
Moderator: Mark T Serbinski CA CPA