Canadian Resident - 1040NR no income, but Schedule K-1 for RRSP holding?

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taxnewb
Posts: 2
Joined: Sun Apr 14, 2024 7:22 pm

Canadian Resident - 1040NR no income, but Schedule K-1 for RRSP holding?

Post by taxnewb »

Hi all!

First, sorry if this has been answered before - I tried to search but couldn't find an answer too easily.

I am a Canadian, living in Canada.
Last year (2023) I got my ITIN and filed 1040NR as I had casino witholdings that I attempted to get back (for 2022 winnings). I'm still waiting for that to finish processing but my first question is, do I need to file a 1040NR for 2023 even though I have no income? If so, how would that look - just literally an empty 1040NR form?

I did receive a Schedule K-1 for a partnership held in my Canadian RRSP, which confused me at first but from reading other posts here I understand that since it is in my RRSP I do not need to include this on my 1040NR. Hopefully this is still correct?

Thanks in advance!
nelsona
Posts: 18729
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Canadian Resident - 1040NR no income, but Schedule K-1 for RRSP holding?

Post by nelsona »

Correct
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
taxnewb
Posts: 2
Joined: Sun Apr 14, 2024 7:22 pm

Re: Canadian Resident - 1040NR no income, but Schedule K-1 for RRSP holding?

Post by taxnewb »

Thank you!

So.. my 1040NR then I would literally ignore the Schedule K-1 and just file it empty?

I wasn't sure so I've been trying to fill it out and ended up making a payment to cover what would have been charged.. but I haven't yet filed.
kundewayne
Posts: 6
Joined: Mon May 27, 2024 6:49 am

Re: Canadian Resident - 1040NR no income, but Schedule K-1 for RRSP holding?

Post by kundewayne »

taxnewb wrote:
> Hi all!
>
> First, sorry if this has been answered before - I tried to search but
> couldn't find an answer too easily.
>
> I am a Canadian, living in Canada.
> Last year (2023) I got my ITIN and filed 1040NR as I had casino witholdings
> that I attempted to get back (for 2022 winnings). I'm still waiting for
> that to finish processing but my first question is, do I need to file a
> 1040NR for 2023 even though I have no income? If so, how would that look -
> just literally an empty 1040NR form?[url=https://basketball-starsgame.com/][size=1]basketball stars[/size][/url]
>
> I did receive a Schedule K-1 for a partnership held in my Canadian RRSP,
> which confused me at first but from reading other posts here I understand
> that since it is in my RRSP I do not need to include this on my 1040NR.
> Hopefully this is still correct?
>
> Thanks in advance!
Is it correct that I should simply leave the Schedule K-1 blank when filing my 1040NR?

Because I was confused, I've been attempting to fill it out; however, I have not yet filed, and I have already paid to cover the amount that would have been due.
tortoletkaschaem
Posts: 12
Joined: Sat Jun 25, 2022 12:20 pm

Re: Canadian Resident - 1040NR no income, but Schedule K-1 for RRSP holding?

Post by tortoletkaschaem »

Hey everyone! I can totally relate to the confusion around filing taxes, especially when dealing with forms like the 1040NR and Schedule K-1. It sounds like you're on the right track, especially since you don’t have to report that K-1 from your RRSP. I found a site that might clarify some things further about managing your taxes while living in Canada, check it out: http://corgi-bet.gr/. Just remember, every situation can be a bit different, and it’s always good to double-check your specific circumstances or consult a tax professional if you’re unsure. Good luck with your filings!
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