Hi,
I'd appreciate it if you could help me with a few questions:
My wife and I were finishing our studies in Canada when we moved to US for work. She started in Jan. 2015 and was part time student till Aug. 2015. I was full time student and receiving Canadian tax-free scholarship till Jul.2015 and started working in Aug. We are both considered US tax persons (I by residency test):
1- do you think I can handle my tax myself?
2- are we dual tax persons?
2- can we use form 1040ez?
3- can/ should we claim the tuitions we paid?
4- should I report my scholarship?
5- I did not close my TFSA but did not contribute to it in 2015. So I think I am in trouble for 2015. Does it matter if I close it ASAP or in Aug. (next time I am traveling to Canada)
thanks
Canadian student moved to US on TN
Moderator: Mark T Serbinski CA CPA
You need to decide is you are going to file ful ywear 1040 or more complicated part-year. Your time as a student in US does not count towards residency test, btw.
The rest of these q's have several posts. happy browsing.
The rest of these q's have several posts. happy browsing.
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
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itswaterloo
- Posts: 2
- Joined: Mon Feb 15, 2016 7:58 pm
Thanks for your reply.
About the residency test, I was a full time student in Canada but I spent most of the first 7 months of 2015 in US as a visitor (B1 visa). The substantial presence test exempts F, J, M, Q visas but not B visa. My employer also did some calculation on the first day and concluded that I will be US tax person (I had no ideaa what that meant on that day though!) Am I correct?
I've been reading about my other questions in this great forum, thanks! Just wondering my University in Canada does not issue form 1098 (I called them and they said use the Canadian tax form T220A). Should I report the scholarship and tution at all if I go with 1040EZ?
About the residency test, I was a full time student in Canada but I spent most of the first 7 months of 2015 in US as a visitor (B1 visa). The substantial presence test exempts F, J, M, Q visas but not B visa. My employer also did some calculation on the first day and concluded that I will be US tax person (I had no ideaa what that meant on that day though!) Am I correct?
I've been reading about my other questions in this great forum, thanks! Just wondering my University in Canada does not issue form 1098 (I called them and they said use the Canadian tax form T220A). Should I report the scholarship and tution at all if I go with 1040EZ?
So, you are deciding to file 1040 full year, which implies reporting WORLD income for the entire year including anything you earned in Canada and US of course. You will have to deal with TFSA reporting and with scholie income.
For any tuition credit/deduction the form you get from school will probably suffice. They deal with this issue with US students all the time, so they know the process. Same for your spouse.
Forget using 1040EZ. ever. You should use 1040. always. EZ is too simple, and if you have any foreign accts at all, you will most likely not properly file.
And I would not bother with dual status either.
For any tuition credit/deduction the form you get from school will probably suffice. They deal with this issue with US students all the time, so they know the process. Same for your spouse.
Forget using 1040EZ. ever. You should use 1040. always. EZ is too simple, and if you have any foreign accts at all, you will most likely not properly file.
And I would not bother with dual status either.
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