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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I graduated and moved to US on TN visa in Mar/21 so I plan to declare departure from Canada and will be deemed resident in US starting Mar/21. My parents had made a RESP withdrawal to pay my student loan. I will report this withdrawal under T4A for my Canada income tax and I think I will not pay tax in Canada since it will be offset by my tuition credit. My question is do I need to declare this on my US tax and pay extra income tax in US for this portion? I won’t have cad tax credit to offset this Canadian source income since the tax was offset by my tuition credit in Canada. Am I right? Thanks for your help.