How do I log a Canadian NR4 form to my income taxes
"Income code 09 is dividends, so yes - it is the same as line 1 of the US form 1099-DIV. 1a or 1b however depends on whether the requirements for qualified dividends are met. If they're met - its 1b, if not - 1a. These are treated and taxed differently. See here on what are the qualification requirements. Note that Canada has a tax treaty with the US making Canadian corporations ""qualified foreign corporations""."
"However this seems off because I would essentially be purposely   filling out a form incorrectly. Note that the only part of the W-4 form that is required to be filled out and given to the employer is the small certificate at the bottom that you tear off. In this part, it only asks you for ""Total number of allowances you are claiming"". You don't have to fill out any of the worksheets in the other parts of the form, which actually ask for specific information. Since there are different allowed ways of computing the ""Total number of allowances you are claiming"", I doubt that any number you put there can be said to be ""incorrect"". I think that the best to use the IRS Withholding Calculator. If you use it, the calculator will probably tell you to claim a few more exemptions. And you don't have to feel bad about ""filling the form incorrectly"" if you follow the IRS calculator." After transferring, do we need to file any forms to IRS regarding money transfer?  Not immediately. Do we need to file any forms in US as part of tax returns for this transfer? In case the recipient and the sender are not the same person, the recipient must attach form 3520A to his/her tax return. If you are transferring between your own accounts - you're good to go. However, this NRE account must have been reported on your FBAR and form 8938 attached to your tax return. Do we need to inform my local bank in USA regarding the transfer in advance?  You probably want to confirm the transfer instructions with them (SWIFT instructions, routing info, etc). is it possible to file that single form aside from the rest of my return? Turbotax will generate all the forms necessary to file your return. I recommend you  access these forms and file them manually. According to the IRS in order to report capital gains and losses you need to fill out Form 8949 and summarize them on Form 1040 D. Add these two forms to the stack that turbotax generates. Add the total capital gains to line 13 of the Form 1040 which turbotax generated, and adjust the totals on the form accordingly. "To report backdoor Roth IRA contributions in TurboTax, you have to fill in two completely separate places: After you fill out #1, your ""taxes"" will seem to increase, but go back down when you fill out #2, if you fill it out correctly. You have to make sure to answer all the questions literally, in order to correctly calculate the basis from the previous year. Unfortunately, this is one of the things that's easier to do by hand (just filling out Form 8606) than using one of these software products. Backdoor Roth IRA is one of those things ""the average Joe"" doesn't do, so the software product doesn't optimize for it." For tax purposes you will need to file as an employee (T4 slips and tax withheld automatically), but also as an entrepreneur. I had the same situation myself last year. Employee and self-employed is a publication from Revenue Canada that will help you. You need to fill out the statement of business activity form and keep detailed records of all your deductible expenses. Make photocopies and keep them 7 years. May I suggest you take an accountant to file your income tax form. More expensive but makes you less susceptible to receive Revenue Canada inspectors for a check-in.  If you can read french, you can use this simple spreadsheet for your expenses. Your accountant will be happy. There are two parts in this 1042-S form. The income/dividends go into the Canada T5 form. There will be credit if 1042-S has held money already, so use T2209 to report too. "On your tax return's Schedule C, Line B, you need to enter the Principal Business or Professional Activity Code that corresponds to your business's activities.  There is a list of these 6-digit codes  at the end of the Schedule C instructions.  (HTML version here, or you can look at the last two pages of the PDF version.)  The directions at the top of this list reads: Select the category that best describes your primary business activity (for example, Real Estate). Then select the activity that best identifies the principal source of your sales or receipts (for example, real estate agent). Now find the six-digit code assigned to this activity (for example, 531210, the code for offices of real estate agents and brokers) and enter it on Schedule C or C-EZ, line B.  (Emphasis mine.) Although there are a lot of codes, it is entirely possible that you won't find one that exactly matches what you do.  The directions say to pick the ""best"" one that you can.  First, pick the broad category.  You haven't specified your business, but let's say that you are a freelance programmer (a common occupation for Stack Exchange users).  The category you decide is best might be ""Professional, Scientific, & Technical Services.""  There are several subcategories and activity codes under this, and you might find one that fits your business.  However, if you don't, at the end of most categories, there is an ""Other"" code.  For our example, there is code 541990, which is ""All other professional, scientific, & technical services."" If you can't even find a broad category that describes your business, there is the last code in the list: 999999, which is for ""Unclassified establishments (unable to classify).""" You need to file IRS Form 1040-NR. The IRS's website provides instructions. You can create a PIN to file electronically at the link below: http://www.irs.gov/Individuals/Electronic-Filing-PIN-Request  Perhaps for the first issue, are all boxes and lines filled out correct? Did you correctly add your W2? "A few practical thoughts: A practical thing that helps me immensely not to loose important paperwork (such as bank statements, bills, payroll statement, all those statements you need for filing tax return, ...) is: In addition to the folder (Aktenordner) where the statements ultimately need to go I use a Hängeregistratur. There are also standing instead of hanging varieties of the same idea (may be less expensive if you buy them new - I got most of mine used): you have easy-to-add-to folders where you can just throw in e.g. the bank statement when it arrives. This way I give the statement a preliminary scan for anything that is obviously grossly wrong and throw it into the respective folder (Hängetasche). Every once in a while I take care of all my book-keeping, punch the statements, file them in the Aktenordner and enter them into the software. I used to hate and never do the filing when I tried to use Aktenordner only. I recently learned that it is well known that Aktenordner and Schnellhefter are very time consuming if you have paperwork arriving one sheet at a time. I've tried different accounting software (being somewhat on the nerdy side, I use gnucash), including some phone apps.  Personally, I didn't like the phone apps I tried - IMHO it takes too much time to enter things, so I tend to forget it. I'm much better at asking for a sales receipt (Kassenzettel) everywhere and sticking them into a calendar at home (I also note cash payments for which I don't have a receipt as far as I recall them - the forgotten ones = difference ends up in category ""hobby"" as they are mostly the beer or coke after sports). I was also to impatient for the cloud/online solutions I tried (I use one for business, as there the archiving is guaranteed to be according to the legal requirements - but it really takes far more time than entering the records in gnucash)." You are right that even if you do not receive a 1099-MISC, you still need to report all income to the IRS.  Report the $40 on Schedule C or Schedule C-EZ.  Since your net profit was less than $400, you do not need to file Schedule SE.  From the IRS web site: Self-Employment Income It is a common misconception that if a taxpayer does not receive a Form 1099-MISC or if the income is under $600 per payer, the income is not taxable. There is no minimum amount that a taxpayer may exclude from gross income. All income earned through the taxpayer’s business, as an independent contractor or from informal side jobs is self-employment income, which is fully taxable and must be reported on Form 1040. Use Form 1040, Schedule C, Profit or Loss from Business, or Form 1040, Schedule C-EZ, Net Profit from Business (Sole Proprietorship) to report income and expenses. Taxpayers will also need to prepare Form 1040 Schedule SE for self-employment taxes if the net profit exceeds $400 for a year. Do not report this income on Form 1040 Line 21 as Other Income. Independent contractors must report all income as taxable, even if it is less than $600. Even if the client does not issue a Form 1099-MISC, the income, whatever the amount, is still reportable by the taxpayer. "I'm mostly guessing based on existing documentation, and have no direct experience, so take this with a pinch of salt. My best understanding is that you need to file Form 843. The instructions for the form say that it can be used to request: A refund or abatement of a penalty or addition to tax due to    reasonable cause or other reason (other than erroneous written    advice provided by the IRS) allowed under the law. The ""reasonable cause"" here is a good-faith confusion about what Line 79 of the form was referring to. In Form 843, the IRC Section Code you should enter is 6654 (estimated tax). For more, see the IRC Section 6654 (note, however, that if you already received a CP14 notice from the IRS, you should cross-check that this section code is listed on the notice under the part that covers the estimated tax penalty). If your request is accepted, the IRS should issue you Notice 746, item 17 Penalty Removed: You can get more general information about the tax collection process, and how to challenge it, from the pages linked from Understanding your CP14 Notice" To start with, I should mention that many tax preparation companies will give you any number of free consultations on tax issues — they will only charge you if you use their services to file a tax form, such as an amended return. I know that H&R Block has international tax specialists who are familiar with the issues facing F-1 students, so they might be the right people to talk about your specific situation. According to TurboTax support, you should prepare a completely new 1040NR, then submit that with a 1040X. GWU’s tax department says you can submit late 8843, so you should probably do that if you need to claim non-resident status for tax purposes. "Do I understand correctly, that we still can file as ""Married filing   jointly"", just add Schedule C and Schedule SE for her? Yes. Business registration information letter she got once registered   mentions that her due date for filing tax return is January 31, 2016.   Does this prevent us from filing jointly (as far as I understand, I   can't file my income before that date)? IRS sends no such letters. IRS also doesn't require any registration. Be careful, you might be a victim to a phishing attack here. In any case, sole proprietor files a regular individual tax return with the regular April 15th deadline. Do I understand correctly that we do not qualify as ""Family   partnership"" (I do not participate in her business in any way other   than giving her money for initial tools/materials purchase)? Yes. Do I understand correctly that she did not have to do regular   estimated tax payments as business was not expected to generate income   this year? You're asking or saying? How would we know what she expected? In any case, you can use your withholding (adjust the W4) to compensate." They are four quarterly estimated tax payments.   The IRS requires that you pay your taxes throughout the year (withholding in a W-2 job).  You'll need to estimate how much taxes you think you might be owing and then pay roughly 1/4 at each of the 4 deadlines. From the IRS: How To Figure Estimated Tax To figure your estimated tax, you must   figure your expected AGI, taxable   income, taxes, deductions, and credits   for the year. When figuring your 2011 estimated tax,   it may be helpful to use your income,   deductions, and credits for 2010 as a   starting point. Use your 2010 federal   tax return as a guide. You can use   Form 1040-ES to figure your estimated   tax. Nonresident aliens use Form   1040-ES (NR) to figure estimated tax. You must make adjustments both for   changes in your own situation and for   recent changes in the tax law. For   2011, there are several changes in the   law. Some of these changes are   discussed under What's New for 2011   beginning on page 2. For information   about these and other changes in the   law, visit the IRS website at IRS.gov. The instructions for Form 1040-ES   include a worksheet to help you figure   your estimated tax. Keep the worksheet   for your records. You may find some value from hiring a CPA to help you setup your estimated tax payments and amounts.