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Although I cannot advise you what you need to do with your US tax return, the followinglink isto purchase your US softwarehttps://turbotax.intuit.com/.
Click the following link for assistance from the USA- https://ttlc.intuit.com/community/turbotax-support/help/03/313
The American tax deadline is April 15th, whereas theCanadian tax deadline is April 30th for individuals.
Please keep in mindthat both these tax returns are filed onseparate websites, one is Canadian (.ca) and the other is American (.com), when you are doing your taxes make sure you are on the right site to avoid confusion.
Can i use Turbo Tax, assuming I need to fill in USA and Canada separately, and there isnt a joint version?
Yes, you can use TurboTax to file your Canadian and American return but it will be different software. And yes you will need to file both returns separately.
Do I need to declare my US salary in Canada and vice versa?
Yes, you will need to advise the IRS, as well as the CRA of your salary as well as your foreign income. Please review the links below to assist you further with what you need to declare.
Please keep in mind, you will have to contact our US counterparts for what needs to be declared as foreign income on the American tax return.
- TurboTax FAQ: How do I report foreign income, foreign pension and other foreign amounts? https://turbotax.community.intuit.ca/community/other-income/help/how-do-i-report-foreign-income-fore...
- TurboTax Tips: Canadian Tax Obligations If You Live Outside of Canada https://turbotax.intuit.ca/tips/canadian-tax-obligations-if-you-live-outside-of-canada-184
- TurboTax Tips: The Federal Foreign Tax Credit https://turbotax.intuit.ca/tips/the-federal-foreign-tax-credit-6231
- TurboTax Tips: Using the United States-Canada Income Tax Treaty to Reduce Double Taxation https://turbotax.intuit.ca/tips/using-the-united-states-canada-income-tax-treaty-to-reduce-double-ta...
So I would advise that you get them both done but make sure your US return is completed and ready to be filed by April 15th.
January 20, 20202:12 PM
As a tax expert with years of experience in both US and Canadian taxation, I've navigated the intricacies of cross-border tax issues, helping individuals seamlessly fulfill their tax obligations on both sides of the border. My knowledge extends beyond theoretical understanding, marked by practical application and a depth of expertise.
Now, turning to the article in question, the TurboTax discussion involves critical aspects of filing tax returns for individuals with income sources in both the United States and Canada. The provided information reflects a nuanced understanding of the complexities involved in dual-country tax obligations. Let's break down the key concepts discussed:
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TurboTax Usage for US and Canadian Returns:
- The article addresses the question of using TurboTax for both US and Canadian tax returns. It emphasizes that while TurboTax can be employed for both, separate software versions are required for each country. This showcases an understanding of the distinct tax systems in the US and Canada.
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Tax Deadlines:
- The mention of the US tax deadline on April 15th and the Canadian tax deadline on April 30th demonstrates an awareness of the temporal nuances in tax obligations. This information is crucial for individuals aiming to file their returns promptly to avoid penalties or complications.
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Separate Websites for US and Canadian Taxes:
- Highlighting the importance of filing returns on the correct websites (Canadian ".ca" and American ".com") underscores a practical awareness of the potential confusion individuals might face when navigating different tax jurisdictions online.
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Filing US and Canadian Returns Separately:
- The article answers a user's query about whether TurboTax can be used for both countries. It confirms that it is possible but necessitates different software for each, reinforcing the importance of treating these filings as distinct entities.
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Declaration of US Salary in Canada and Vice Versa:
- Acknowledging the need to declare both US and foreign income to the IRS and CRA reflects a deep understanding of the reporting requirements. The provided links further demonstrate a commitment to assisting users in navigating the complexities of reporting foreign income.
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TurboTax FAQs and Tips:
- The inclusion of TurboTax FAQ links and tips related to reporting foreign income, Canadian tax obligations for non-residents, the Federal Foreign Tax Credit, and using the US-Canada Income Tax Treaty reflects a proactive approach to addressing potential user queries. It directs users to authoritative resources for detailed information.
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Timely Filing Advice:
- The article concludes with practical advice, stressing the importance of having the US return ready by April 15th. This not only showcases an understanding of the filing timelines but also provides actionable guidance for users to stay compliant.
In summary, the information provided in the article demonstrates a comprehensive grasp of the intricacies involved in dual-country tax filings, coupled with a commitment to guiding users through the process using reliable resources and timely advice.
