Dual Status Return for Returning Canadian

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flyingmonkey
Posts: 28
Joined: Tue Mar 07, 2017 11:51 am

Dual Status Return for Returning Canadian

Post by flyingmonkey »

Trying to wrap my head around the dual-status return and feel that I am getting closer. I returned to Canada in April 2018, was US resident Jan-March and Canadian resident April-Dec. I am choosing to file dual-status over 1040 full year because I opened a TFSA upon my return and do not want to have to deal with filing 3520/PFIC (as it seems much more complicated than dual-status). I'll lose a bit of money but hopefully save some sanity.

Things I need to include:
- W-2 for US income from Jan-March
- 1099-INT for interest from US bank in Jan-March
- 1099-R (1) for backdoor Roth in Jan-March
- 1099-R (2) for Roth 401k -> Roth IRA rollover in Jan-March
- 1099-R (3) for traditional IRA distribution in April-Dec
- Investment income in Jan-March (through form 8949)

As I understand I will file a 1040 statement for all world income for Jan-March and a 1040NR return for all US-source income for the entire year plus world income for Jan-March. My tax owing/return will be calculated based off 1040NR where NR rules apply. To break it down further:

1040
- W-2 income
- 1099-INT income with associated schedule B
- 1099-R for (1) and (2) and associated form 8606
- investment income and associated schedule D and form 8949

1040NR
- all of the above for 1040
- + 1099-R (3) for the traditional IRA

Am I correct in assuming that I have to include all relevant schedules (B/D) and forms (8606/8949) on my 1040 statement? Or do they just get attached to the 1040NR return and I only fill in the 1040 statement with the relevant numbers. Or do I attach the relevant schedules to the statement/return in which they occurred?
nelsona
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Re: Dual Status Return for Returning Canadian

Post by nelsona »

I would include them with the 1040 portion.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
flyingmonkey
Posts: 28
Joined: Tue Mar 07, 2017 11:51 am

Re: Dual Status Return for Returning Canadian

Post by flyingmonkey »

Alright, so more succinctly, for the 1040 statement I am basically filling out only the income portions and associated attachments, then forwarding the results on to the 1040NR statement where I additionally compute non-resident income, deductions, credits etc and finally tax owing/owed. Seems to make sense at a high level. I'll try it this week and I'm sure I'll have more specific questions. Thanks.
flyingmonkey
Posts: 28
Joined: Tue Mar 07, 2017 11:51 am

Re: Dual Status Return for Returning Canadian

Post by flyingmonkey »

[quote=flyingmonkey post_id=51257 time=1551665597 user_id=9371]
1040NR statement
[/quote]

1040NR return**
nelsona
Posts: 18314
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Dual Status Return for Returning Canadian

Post by nelsona »

There won't be any credits and very few deductions on your 1040NR.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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