Canada/US tax resident - filing first time for both
Moderator: Mark T Serbinski CA CPA
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- Posts: 13
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Canada/US tax resident - filing first time for both
Hi, I am US GreenCard holder and work and live in US. I have my family, multiple rental properties, primary residence, car, bank accounts, RRSP etc in Canada. Since my relationship to Canada is strong, I am also considered tax resident of Canada. I moved to US in March 2023 and this is first time when I will be filing taxes in US and Canada. Already received W2 for US. I always file my own taxes using Turbotax paid version as I have rental incomes to show. Looking for guidance so that I can handle tax filing in both countries. Thank You!!
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- Posts: 13
- Joined: Sat Feb 12, 2022 11:50 am
Re: Canada/US tax resident - filing first time for both
Hi Nelson, Looking forward for some help from you.
Re: Canada/US tax resident - filing first time for both
Once you satisfy US tax residency by treaty, you are no longer considered Cdn tax resident. What *dependents* are in canada? Economic ties in canada don't count.' Let's establish that first.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing ![Very Happy :D](./images/smilies/icon_biggrin.gif)
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- Posts: 13
- Joined: Sat Feb 12, 2022 11:50 am
Re: Canada/US tax resident - filing first time for both
nelsona wrote:
> Once you satisfy US tax residency by treaty, you are no longer considered
> Cdn tax resident. What *dependents* are in canada? Economic ties in canada
> don't count.' Let's establish that first.
Hi Nelsona, I have dual status. I consulted two cross border tax accountant last year and both mentioned that my ties to Canada is too strong and CRA will consider me tax resident to Canada even though I live and work in US.
Below is the message I got last year from cross border accountant:
US Tax Return (As single)
- US Dual Status Return
- US FBAR
- Form 8833 (to bump up cost of your primary residence to its FMV on the date you get your Green Card)
Canada Tax Return (Married jointly):
- T1 Tax Return
- Foreign Tax Credit Form (T2209)
- Form T776 (rental income and expenses)
Please advise.
> Once you satisfy US tax residency by treaty, you are no longer considered
> Cdn tax resident. What *dependents* are in canada? Economic ties in canada
> don't count.' Let's establish that first.
Hi Nelsona, I have dual status. I consulted two cross border tax accountant last year and both mentioned that my ties to Canada is too strong and CRA will consider me tax resident to Canada even though I live and work in US.
Below is the message I got last year from cross border accountant:
US Tax Return (As single)
- US Dual Status Return
- US FBAR
- Form 8833 (to bump up cost of your primary residence to its FMV on the date you get your Green Card)
Canada Tax Return (Married jointly):
- T1 Tax Return
- Foreign Tax Credit Form (T2209)
- Form T776 (rental income and expenses)
Please advise.
Re: Canada/US tax resident - filing first time for both
Please continue consulting with your tax pros
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing ![Very Happy :D](./images/smilies/icon_biggrin.gif)
![Very Happy :D](./images/smilies/icon_biggrin.gif)
Re: Canada/US tax resident - filing first time for both
Hi rao_manoj2004, as per the link below and as per nelsona, you will be a deemed non-resident for Canada since you are a Green-card holder and a resident-alien for the US which has a tax-treaty with Canada...
https://www.canada.ca/en/revenue-agency ... tatus.html
https://www.canada.ca/en/revenue-agency ... tatus.html