Hi,
I'm living in US with a TN. I cut my link with Canada and Quebec but I keeped my bank accounts but changed my residency status with the bank. For the interest I had in 2007 on my account they send me a T5 but they said it's a mistake and I should receive after March 1st a NR4. What I have to do with the T5 and the NR4?
I already have to send a letter for tax Quebec to told them I will not do a tax report...same if I told them that I didn't leave there and work there for all 2007 they send me 2007 papers to fill. I had write that I left the Canada in 2006 for my 2006 report...
Canada told me I have nothing to do...but I have a T5?
I will fill a 1040 in US with my W2 but what about my interest of Canadian bank account? :?
Thanks you,
T5 in US tax report...
Moderator: Mark T Serbinski CA CPA
You report all interest on your US return. The tax withheld in canada is to be used as a credit on your US return, using form 1116.
You have nothing to report in canada since you seem to have left in 2006, and are no longer resident.
You have nothing to report in canada since you seem to have left in 2006, and are no longer resident.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
You do not file anything in canada. You send them a letter with tha check for 10% of the interest.
The IRS doesn't ask for receipts. You input the values into your tax return based on your T5, and keep it for reference.
The IRS doesn't ask for receipts. You input the values into your tax return based on your T5, and keep it for reference.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
Re: T5 in US tax report...
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