Hi,
I left the USA (lived there a few years) and re-established residency in Canada earlier this year 2020.
I would like to file 1040 return to get standard deduction and file married joint.
My canadian income is too high to exclude completely from 1040 using foreign income exemption.
My question is: If I contribute to employer-sponsored RRSP in Canada, can I deduct this from 1040 income ? (up to 401k limit). I'm a canadian citizen and not a USA citizen.
Thanks
Moved back to canada, 1040 departure year + RRSP contributions
Moderator: Mark T Serbinski CA CPA
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- Posts: 16
- Joined: Sat Nov 18, 2017 6:39 pm
Re: Moved back to canada, 1040 departure year + RRSP contributions
You would be able to deduct employer plan contributions from your 2020 1040. Not private contributions. Be careful that you not exceed your RRSP limit however, which may be small if you have not reported in Canada for a few years.
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