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.
I am working on a TN visa in USA as Canadian citizen. I filed a US 1040 and got a Tax Credit for $8000 first time home buyer tax credit. When I am filing Canadian Tax, I found I have to pay close to $8000 to Canadian Tax! I don't know if this is correct and how to do this.
Since for Foreign Tax Paid, I have to deduct $8000? or should I put $8000 as other foreign income? I really don't know how to do this. Can someone please help me?
But, yes, if you reduce your uS tax, youare merely adding to your Cdn tax.
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