J1 Visa, Foreign tax credit question

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J1 Visa, Foreign tax credit question

Postby jamesmaxor » Fri Apr 17, 2009 2:43 pm

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I worked as a Student J1 Visa for a few months last year. I already filed my US taxes. I have a Canadian tax question.

I have enough tuition credits to offset all the taxes before using the foreign credit, leaving me with a foreign credit that might not have any use in the future. I was looking for any information on credit ordering and could not find anything on foreign credits.

Does anyone have any knowledge on this subject?
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Re: J1 Visa, Foreign tax credit question

Postby Steven » Sat Apr 18, 2009 3:58 pm

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Foreign credits in what respect?

If you've worked in the US then you can claim a foreign tax credit on T2209 and T2036, but that's to do with your job, not your tuition.
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Re: J1 Visa, Foreign tax credit question

Postby agnelson » Thu Oct 08, 2009 8:02 am

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Just as a note on this issue, if you have sufficient foreign TAX credits to reduce your Cdn income tax to zero, you can carryforward the TUITION credits to a future year(since they are for your education) . Since foreign tax credit cannot be carried forward, it would be wisest to use these first, and use tuition afterwards.
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