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swsw171717
Returning Member

Filing Both USA and Canada Taxes

Hi I've started working in Canada last year and filing taxes for the first time as an American citizen. I've been referred to cross-border accountants that charge like $250 an hour and honestly my situation isn't too complex.

No TFSA or accounts that require additional filing, just got a T4 and royalties from live streaming (form 1099) and  PayPal donations that need to be filed. Do I need to request PayPal for an additional form 1099 or from Streamlabs? I received one of the USA stimulus checks but the other one got stolen - I heard of people listing this for a deduction for their taxes?

My friends in Canada and USA suggest turbotax but they aren't in the same situation as I am. Should I just bite the bullet and have someone do it for me for the first time and learn from then?

I've briefly tried filing my Canadian taxes on turbotax using the free version but honestly don't want to miss anything. Do I just have to file both USA and CA turbotax programs??

Any advice would help please!!

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5 Replies
DaveF1006
Employee Tax Expert

Filing Both USA and Canada Taxes

 To clarify and give you a complete answer, did you live in the US and travel across the border to go to work?

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swsw171717
Returning Member

Filing Both USA and Canada Taxes

I didn't live in the USA for the past few years but an American citizen. Started working in a work permit in Canada starting last year. 

ErnieS0
Expert Alumni

Filing Both USA and Canada Taxes

Yes, you have to use both the US and Canadian TurboTax programs to file two different returns—one for the US and another for Canada. You can claim a tax credit on the US return for tax paid to Canada (since you are a US citizen).

 

US citizens are taxed on worldwide income so you can use US TurboTax the same as someone living in the US.

 

T4 slip

Your T4 is foreign income. You can claim a foreign earned income exclusion since your did not live in the US.

 

Streaming income

Your streaming royalties would either be self-employment income (also qualifying for the foreign earned income exclusion) or royalties. You do not need a 1099 to report this income,

 

Stimulus payment

A stolen stimulus check is not a deduction. If you received your payment by check and it was lost, stolen or destroyed, you should request a payment trace so the IRS can determine if your payment was cashed. See How do I request a payment trace to track my third Economic Impact Payment?

 

If you were issued a payment and have not received it at all, see How do I request a payment trace to track my third Economic Impact Payments?

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Filing Both USA and Canada Taxes

I live in Michigan and work in Canada what did I report on the U.S. returns and state returns from the T4 

Filing Both USA and Canada Taxes

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**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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