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So I've been living in Canada for school the past year I am originally from the US. Between classes I've been working part time, I have my T4 how do I use it?

I guess what I'm asking is can I use it for my return from the states or, do I have to file a separate return for Canada?
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ToddL99
Expert Alumni

So I've been living in Canada for school the past year I am originally from the US. Between classes I've been working part time, I have my T4 how do I use it?

As a U.S. citizen attending school in Canada, you need to report your Canada income on your U.S. tax return; you will have to "convert" the T4 entries into $US . 

 

(Unfortunately, we are not qualified or permitted to offer advice on your Canada tax filing requirements).

 

This is obviously foreign income without a Form W-2. We can't "translate" your T4 into a Form W-2, so you will have to do that as you enter it in TurboTax.

 

To enter your foreign income see instructions at  Income from Foreign Employer

 

If you paid foreign tax on any of this income, see Where do I show the taxes we paid already on our foreign income? 

 

Part of the challenge it s to convert your Canadian earnings into $US. 

 

You have a choice of which rate to use, so use the one that is most beneficial to you.  According to the IRS:

Use the exchange rate prevailing when you receive, pay, or accrue the item. If there is more than one exchange rate, use the one that most properly reflects your income. You can generally get exchange rates from banks and U.S. Embassies.

The IRS also lists the following resources for obtaining an exchange rate:

Governmental Resources

 

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