I worked both in the U.S and Canada during FY18. Can I file taxes in both countries using my same Turbo account? If yes, how do it do it. Thanks in advance
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Yes you will be able to use Turbo Tax to file your Canadian and US Tax returns. Since you are a dual citizen, you will need to file a Canadian and US tax return, which can be done in Turbo Tax.These will be two separate tax returns that you will need to file with Turbo Tax and you will need to report your worldwide income on both returns. The Tax Treaty between the two countries will prevent you from having to pay taxes to both countries on the same income by allowing you to claim a foreign tax credit on either your US or Canadian tax return to prevent double taxation.
For the U.S. tax return use turbotax.com
For the Canadian tax return go to turbotax.ca
You can use the same account.
Hi,
I have both Canadian and US citizenships and returned to Canada 2 years ago after working 16 years in the US.
I have been paying a tax accountant to complete my Canadian and US tax returns but am now looking to save some money if I can do it myself (I used to use Turbo Tax in the US).
I believe that I can use Turbo Tax Canada to complete my Canadian tax return and Turbo Tax US to complete my US tax return but my main concern is whether either software will help me to submit both tax returns correctly by considering the tax treaty between the 2 countries.
My tax returns should be pretty straightforward as I do not collect any wages. The only forms I have are for interests and dividends and for the investments I still have in the US (I get a tax package every year end from my financial advisor with details on the buys and sells for my accounts).
Can you please tell me if Turbo Tax is my solution or do I have to keep paying my tax accountant to complete the returns for me?
Thank you!
Yes you will be able to use Turbo Tax to file your Canadian and US Tax returns. Since you are a dual citizen, you will need to file a Canadian and US tax return, which can be done in Turbo Tax.These will be two separate tax returns that you will need to file with Turbo Tax and you will need to report your worldwide income on both returns. The Tax Treaty between the two countries will prevent you from having to pay taxes to both countries on the same income by allowing you to claim a foreign tax credit on either your US or Canadian tax return to prevent double taxation.
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