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I am a permanent resident of Canada and curretly live and work full time in Canada. I used to live and work in the US on a work permit a couple of years ago. A savings account I had opened while in the US, over the last year earned a small interest ($36.00; thrity six only) and I have been sent a 1099-INT interest income statement. This statement shows that no Federal income-tax was withheld. I do not have a W2 or any other source of income in the US. Am I supposed to file a 1040-NR or something like that ?
Thank you for your advice.
If this is the only US source income you have its considered portfolio interest all you need to do is convert it into CND dollars use teh average rate of 1.0299 ( 1.03 rounded) for 2010 and show it on your CND T1 tax return, you do not need to file anything with the IRS.