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#1
03-27-2005, 12:37 PM
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 Re: Canadian Citizen reporting taxes on 401k withdrawal "Philemon Chose" <philemon.chose[at]nl.rogers.com> wrote: - quote - > I am a Canadian Citizen and I worked in the U.S. in 2001. I
A 1040NR would be the proper form. Also, don't forget that> decided to withdraw the 401k contributions in 2004 and need > advice on how to report this income to the U.S. Government. > Would a 1040NR be the correct tax return form? I have a > 1099-R with the deductions, would that be my only claim on > the return? Any advice would be appreciated. while this will also be taxable on your T-1 return, there will be a tax credit on the T-1 for some of the taxes paid to the US. Bryan -- Bryan Kellar, EA Oregon Tax Help, Inc. -- Portland, Oregon www.oregontaxhelp.com www.canadatax.org << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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03-27-2005, 11:01 AM
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| Re: Canadian Citizen reporting taxes on 401k withdrawal "Philemon Chose" <philemon.chose[at]nl.rogers.com> wrote: - quote - > I am a Canadian Citizen and I worked in the U.S. in 2001. I
It is the correct form. You might also need Form 5329 to> decided to withdraw the 401k contributions in 2004 and need > advice on how to report this income to the U.S. Government. > Would a 1040NR be the correct tax return form? I have a > 1099-R with the deductions, would that be my only claim on > the return? Any advice would be appreciated. report the withdrawal penalty. If you put it into an RRSP you might check the US-Canada treaty to see if that is an action that could avoid the penalty. -- Tom Healy, CPA Boulder, CO Web: http://www.tomhealycpa.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
03-25-2005, 05:45 AM
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| Canadian Citizen reporting taxes on 401k withdrawal I am a Canadian Citizen and I worked in the U.S. in 2001. I decided to withdraw the 401k contributions in 2004 and need advice on how to report this income to the U.S. Government. Would a 1040NR be the correct tax return form? I have a 1099-R with the deductions, would that be my only claim on the return? Any advice would be appreciated. Thanks << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 401k, canadian, citizen, reporting, taxes, withdrawal |
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