I moved from Canada to USA on July 2 and will be considered a non-resident of Canada and a US resident alien for tax purposes (according to 183 days rule). Before moving to US I was employed in Canada and received wages and paid taxes. I have a question:
When filing the tax return next year with IRS, do I need to report my Canadian income of the entire year or only after I arrived in US (Jul 2nd)?
US resident: Report Canadian income before arrival?
Moderator: Mark T Serbinski CA CPA
Re: US resident: Report Canadian income before arrival?
You only must report income earned after you moved. However, it may be beneficial for you to report all your income for the year on a US 1040 (you still need to report the income earned before leaving canada to CRA) in order to get all the tax advantages available to full-year US residents.
Its a decison you can make at tax time by prepping both ways.
Its a decison you can make at tax time by prepping both ways.
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
Re: US resident: Report Canadian income before arrival?
Thanks. Does this apply to earnings from my registered and non-registered Canadian accounts? Should I only report capital gain/loss, dividend, and interest after I moved to US? or this time I report all the year? I was reading here that it's got to be from the beginning of the year. That's what makes me confused.
viewtopic.php?f=2&t=299763
viewtopic.php?f=2&t=299763
Re: US resident: Report Canadian income before arrival?
The RRSP is tax deferred in both counties.
As to your non-registered, you will have deemd dispositions as wel las true sales, you will get credit for the tax you paid in canada, or have the holdings reevaluated at departure.
As to your non-registered, you will have deemd dispositions as wel las true sales, you will get credit for the tax you paid in canada, or have the holdings reevaluated at departure.
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