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Irs Gov

Free E File Federal And State Tax ReturnIrs Gov Form1040ezFree Tax FiingFile Tax Extension OnlineHow To Amend A Tax Return 2013Hrblock Free FileFree Federal And State Tax ReturnsFile Back Taxes Online FreeTaxslayer 2011 Tax ReturnAmend Tax Return2011 Tax Forms 1040a2012 1040ezE File State Return For FreeFree Federal Tax Filing 2012Help Filing An Amended Tax ReturnUnemployed File TaxesHr Block Taxes Online1040ez BookletState Income Tax Help2012 Tax Returns1090ezIrs Instructions 1040ez 20122009 Tax AmendmentFree 1040 Ez Form2011 Tax Form 1040ezDownload A 1040ez Federal Tax Form2011 Tax Software Download2011 Taxact1040a 2012Turbotax Deluxe Federal E File State 2012Free State Tax Downloads1040ez Form1040x Online SoftwareWhere Can I File 2012 TaxesHow To File A 1040xCorporation Tax SoftwareAmended Tax FormFile Taxes 20081040ez Form 20121040ez Online

Irs Gov

Irs gov Index A Accelerated Cost Recovery System (ACRS), MACRS Depreciation (see also Modified Accelerated Cost Recovery System (MACRS)) Effective date, Depreciation Methods Accounting methods Accrual method, Accrual method. Irs gov Cash method, Cash method. Irs gov Change of method, Changing your accounting method. Irs gov Constructive receipt of income, Cash method. Irs gov , More information. Irs gov Accrual method taxpayers, Accrual method. Irs gov ACRS (Accelerated Cost Recovery System) Effective date, Depreciation Methods Active participation, Active participation. Irs gov Activities not for profit, Duplex. Irs gov Additions to property, Additions or improvements to property. Irs gov (see also Improvements) Basis, Increases to basis. Irs gov , Additions or improvements. Irs gov MACRS recovery period, Additions or improvements to property. Irs gov Adjusted basis MACRS depreciation, Adjusted Basis Adjusted gross income (AGI) Modified (see Modified adjusted gross income (MAGI)) Advance rent, Advance rent. Irs gov Security deposits, Security deposits. Irs gov Advertising, Types of Expenses Allocation of expenses Change of property to rental use, Payments added to capital account. Irs gov How to divide expenses, Dividing Expenses Part of property rented, Renting Part of Property, How to divide expenses. Irs gov Personal use of rental property, Personal use of rental property. Irs gov , Personal Use of Dwelling Unit (Including Vacation Home) Alternative Depreciation System (ADS) Election of, Electing ADS MACRS, MACRS Depreciation, Table 2-2d. Irs gov Alternative minimum tax (AMT) Accelerated depreciation methods, Alternative minimum tax (AMT). Irs gov Amended returns, Filing an amended return. Irs gov Apartments Basement apartments, Examples. Irs gov Dwelling units, Dwelling unit. Irs gov Appraisal fees, Settlement fees and other costs. Irs gov Assessments for maintenance, Assessments for local improvements. Irs gov Assessments, local (see Local assessments) Assistance (see Tax help) Assumption of mortgage, Assumption of a mortgage. Irs gov Attorneys' fees, Settlement fees and other costs. Irs gov , Increases to basis. Irs gov Automobiles MACRS recovery periods, Property Classes Under GDS B Basis Adjusted basis, Adjusted Basis Assessments for local improvements, Assessments for local improvements. Irs gov Basis other than cost, Basis Other Than Cost Cost basis, Cost Basis Decreases to, Decreases to basis. Irs gov Deductions Capitalization of costs vs. Irs gov , Deducting vs. Irs gov capitalizing costs. Irs gov Not greater than basis, Cost or Other Basis Fully Recovered Fair market value, Fair market value. Irs gov Increases to, Increases to basis. Irs gov MACRS depreciable basis, Basis of Depreciable Property Property changed to rental use, Basis of Property Changed to Rental Use C Capital expenditures Deductions vs. Irs gov effect on basis, Deducting vs. Irs gov capitalizing costs. Irs gov Local benefit taxes, Local benefit taxes. Irs gov Mortgages, payments to obtain, Expenses paid to obtain a mortgage. Irs gov Cars MACRS recovery periods, Property Classes Under GDS Cash method taxpayers, Cash method. Irs gov Casualty losses, Exception for Rental Real Estate With Active Participation Change of accounting method, Changing your accounting method. Irs gov Charitable contributions Use of property, Donation of use of the property. Irs gov Cleaning and maintenance, Types of Expenses Closing costs, Settlement fees and other costs. Irs gov Commissions, Types of Expenses Computers MACRS recovery periods, Property Classes Under GDS Condominiums, Condominiums, Dwelling unit. Irs gov Constructive receipt of income, Cash method. Irs gov , More information. Irs gov Cooperative housing, Cooperative apartments. Irs gov , Cooperatives, Dwelling unit. Irs gov Cost basis, Cost Basis Credit reports, Settlement fees and other costs. Irs gov Credits Residential energy credits, Decreases to basis. Irs gov D Days of personal use, What is a day of personal use? Days used for repairs and maintenance, Days used for repairs and maintenance. Irs gov Deductions Capitalizing costs vs. Irs gov effect on basis, Deducting vs. Irs gov capitalizing costs. Irs gov Depreciation (see Depreciation) Limitations on, Form 4562. Irs gov Passive activity losses (see Passive activity) Depreciation, Depreciation of Rental Property, Changing your accounting method. Irs gov Alternative Depreciation System (ADS) (see Modified Accelerated Cost Recovery System (MACRS)) Basis (see Basis) Change of accounting method, Changing your accounting method. Irs gov Change of property to rental use, Property Changed to Rental Use Claiming correct amount of, Claiming the Correct Amount of Depreciation Declining balance method, Depreciation Methods Duration of property expected to last more than one year, What Rental Property Can Be Depreciated? Eligible property, What Rental Property Can Be Depreciated? First-year expensing, Section 179 deduction. Irs gov MACRS (see Modified Accelerated Cost Recovery System (MACRS)) Methods, Depreciation Methods, Figuring Your Depreciation Deduction Ownership of property, What Rental Property Can Be Depreciated?, Property you own. Irs gov Rental expense, Depreciation. Irs gov Rented property, Rented property. Irs gov Section 179 deduction, Section 179 deduction. Irs gov Special depreciation allowances, Claiming the Special Depreciation Allowance Straight line method, Depreciation Methods Useful life, What Rental Property Can Be Depreciated?, Property having a determinable useful life. Irs gov Vacant rental property, Vacant rental property. Irs gov Discount, bonds and notes issued at (see Original issue discount (OID)) Dividing of expenses (see Allocation of expenses) Dwelling units Definition, Dwelling unit. Irs gov Fair rental price, Fair rental price. Irs gov Personal use of, Personal Use of Dwelling Unit (Including Vacation Home), What is a day of personal use? E Easements, Decreases to basis. Irs gov Equipment rental expense, Rental of equipment. Irs gov F Fair market value (FMV), Fair market value. Irs gov Fair rental price, Dividing Expenses, Fair rental price. Irs gov Fees Loan origination fees, Points, Settlement fees and other costs. Irs gov Points (see Points) Settlement fees and other costs, Settlement fees and other costs. Irs gov Tax return preparation fees, Legal and other professional fees. Irs gov First-year expensing, Section 179 deduction. Irs gov Form 1040 Not rented for profit income, Where to report. Irs gov Part of property rented, Renting Part of Property Rental income and expenses, Reporting Rental Income, Expenses, and Losses Schedule E, Schedule E (Form 1040) Form 1098 Mortgage interest, Form 1098, Mortgage Interest Statement. Irs gov Form 4684 Casualties and thefts, How to report. Irs gov Form 4797 Sales of business property, How to report. Irs gov Form 8582 Passive activity losses, Form 8582. Irs gov , Form 8582 not required. Irs gov Free tax services, Free help with your tax return. Irs gov G Gains and losses At-risk rules, At-Risk Rules Casualty and theft losses, Exception for Rental Real Estate With Active Participation Limits on rental losses, Form 4562. Irs gov Passive activity losses, Passive Activity Limits Rental real estate activities, Exception for Rental Real Estate With Active Participation Sale of rental property, Sale or exchange of rental property. Irs gov , How to report. Irs gov General depreciation system (GDS) (see Modified Accelerated Cost Recovery System (MACRS)) H Help (see Tax help) Home Main home, Main home. Irs gov Use as rental property (see Use of home) I Improvements, Table 1-1. Irs gov Examples of Improvements (see also Repairs) Assessments for local improvements, Assessments for local improvements. Irs gov Basis, Increases to basis. Irs gov , Additions or improvements. Irs gov Depreciation of rented property, Rented property. Irs gov MACRS recovery period, Additions or improvements to property. Irs gov Insurance, Types of Expenses Casualty or theft loss payments, Decreases to basis. Irs gov Change of property to rental use, Property Changed to Rental Use Fire insurance premiums, cost basis, Settlement fees and other costs. Irs gov Part of property rented, Renting Part of Property Premiums paid in advance, Insurance premiums paid in advance. Irs gov Title insurance, cost basis, Settlement fees and other costs. Irs gov Interest payments, Interest expense. Irs gov (see also Mortgages) Loan origination fees, Points Rental expenses, Types of Expenses L Land Cost basis, Separating cost of land and buildings. Irs gov Depreciation, Land. Irs gov Leases Cancellation payments, Canceling a lease. Irs gov Equipment leasing, Rental of equipment. Irs gov Limits Passive activity losses and credits, Passive Activity Limits Rental losses, Limits on Rental Losses Loans Assumption fees, Settlement fees and other costs. Irs gov Charges connected with getting or refinancing, cost basis, Settlement fees and other costs. Irs gov Low or no interest, Loans with low or no interest. Irs gov Origination fees, Points Local assessments, Assessments for local improvements. Irs gov Losses (see Gains and losses) M Missing children, photographs of, Reminders Modified Accelerated Cost Recovery System (MACRS), MACRS Depreciation, Figuring MACRS Depreciation Under ADS Additions or improvements to property, Additions or improvements to property. Irs gov Adjusted basis, Adjusted Basis Alternative Depreciation System (ADS), MACRS Depreciation, Figuring MACRS Depreciation Under ADS Basis other than cost, Basis Other Than Cost Conventions, Conventions Cost basis, Cost Basis Depreciable basis, Basis of Depreciable Property Effective date, Depreciation Methods Excluded property, Excluded Property General Depreciation System (GDS), MACRS Depreciation, Property Classes Under GDS, Figuring Your Depreciation Deduction Nonresidential rental property, Property Classes Under GDS Property used in rental activities (Table 2-1), Table 2-1. Irs gov MACRS Recovery Periods for Property Used in Rental Activities Recovery periods, Table 2-1. Irs gov MACRS Recovery Periods for Property Used in Rental Activities, 5-, 7-, or 15-year property. Irs gov Residential rental property, Property Classes Under GDS, Residential rental property. Irs gov Special depreciation allowances, Claiming the Special Depreciation Allowance Modified adjusted gross income (MAGI), Modified adjusted gross income (MAGI). Irs gov Mortgages, Expenses paid to obtain a mortgage. Irs gov Assumption of, cost basis, Assumption of a mortgage. Irs gov Change of property to rental use, Property Changed to Rental Use End of, OID, Loan or mortgage ends. Irs gov Interest, Interest expense. Irs gov , Property Changed to Rental Use, Renting Part of Property Mortgage insurance premiums, Settlement fees and other costs. Irs gov Part of property rented, Renting Part of Property N Nonresidential real property, Property Classes Under GDS Not-for-profit activities, Duplex. Irs gov O Original issue discount (OID), Points, Loan or mortgage ends. Irs gov P Part interest Expenses, Part interest. Irs gov Income, Part interest. Irs gov Passive activity Maximum special allowance, Maximum special allowance. Irs gov Personal property Rental income from, Property or services. Irs gov Personal use of rental property, Payments added to capital account. Irs gov , Personal Use of Dwelling Unit (Including Vacation Home) (see also Property changed to rental use) Placed-in-service date, Placed in Service Points, Types of Expenses, Points, Settlement fees and other costs. Irs gov Pre-rental expenses, Pre-rental expenses. Irs gov Principal residence (see Home) Profit, property not rented for, Duplex. Irs gov Property changed to rental use, Payments added to capital account. Irs gov Basis, Basis of Property Changed to Rental Use Publications (see Tax help) R Real estate professionals, Real estate professionals. Irs gov Real estate taxes, Real estate taxes. Irs gov Real property trades or businesses, Real property trades or businesses. Irs gov Recordkeeping requirements Travel and transportation expenses, Local transportation expenses. Irs gov , Travel expenses. Irs gov Recovery periods, Property Classes Under GDS Rent, Settlement fees and other costs. Irs gov Advance rent, Advance rent. Irs gov Fair price, Fair rental price. Irs gov Rental expenses, Rental Expenses Advertising, Types of Expenses Allocation between rental and personal uses, Dividing Expenses Change of property to rental use, Property Changed to Rental Use Cleaning and maintenance, Types of Expenses Commissions, Types of Expenses Depreciation, Depreciation. Irs gov Dwelling unit used as home, Dwelling Unit Used as a Home Equipment rental, Rental of equipment. Irs gov Home, property also used as, Rental of property also used as your home. Irs gov Improvements, Table 1-1. Irs gov Examples of Improvements Insurance, Types of Expenses, Insurance premiums paid in advance. Irs gov Interest payments, Types of Expenses, Interest expense. Irs gov Local transportation expenses, Types of Expenses, Local transportation expenses. Irs gov Part of property rented, Renting Part of Property Points, Types of Expenses, Points Pre-rental expenses, Pre-rental expenses. Irs gov Rental payments, Types of Expenses Repairs, Types of Expenses, Repairs and Improvements Sale of property, Vacant while listed for sale. Irs gov Tax return preparation fees, Legal and other professional fees. Irs gov Taxes, Types of Expenses Tenant, paid by, Expenses paid by tenant. Irs gov Travel expenses, Types of Expenses Utilities, Types of Expenses Vacant rental property, Vacant rental property. Irs gov Rental income Advance rent, Advance rent. Irs gov Cancellation of lease payments, Canceling a lease. Irs gov Dwelling unit used as home, Dwelling Unit Used as a Home Lease with option to buy, Lease with option to buy. Irs gov Not rented for profit, Not Rented for Profit Part interest, Part interest. Irs gov Property received from tenant, Property or services. Irs gov Reporting, Accrual method. Irs gov , Which Forms To Use Security deposit, Security deposits. Irs gov Services received from tenant, Property or services. Irs gov Uncollected rent, Uncollected rent. Irs gov Used as home, Rental of property also used as your home. Irs gov Rental losses, Exception for Rental Real Estate With Active Participation (see also Gains and losses) (see also Passive activity) Repairs, Types of Expenses, Repairs and Improvements (see also Improvements) Assessments for maintenance, Assessments for local improvements. Irs gov Personal use of rental property exception for days used for repairs and maintenance, Days used for repairs and maintenance. Irs gov S Sale of property Expenses, Vacant while listed for sale. Irs gov Gain or loss, Sale or exchange of rental property. Irs gov , How to report. Irs gov Main home, Sale of main home used as rental property. Irs gov Section 179 deductions, Section 179 deduction. Irs gov Security deposits, Security deposits. Irs gov Settlement fees, Settlement fees and other costs. Irs gov Shared equity financing agreements, Shared equity financing agreement. Irs gov Special depreciation allowances, Claiming the Special Depreciation Allowance Spouse Material participation, Participating spouse. Irs gov Standard mileage rates, Local transportation expenses. Irs gov Surveys, Settlement fees and other costs. Irs gov T Tables and figures Improvements, examples of (Table 1-1), Table 1-1. Irs gov Examples of Improvements MACRS optional tables (Table 2-2d), Table 2-2d. Irs gov MACRS optional tables (Tables 2-2a, 2-2b, and 2-2c), Tables 2-2a, 2-2b, and 2-2c. Irs gov MACRS recovery periods for property used in rental activities (Table 2-1), Table 2-1. Irs gov MACRS Recovery Periods for Property Used in Rental Activities Tax credits Residential energy credits, effect on basis, Decreases to basis. Irs gov Tax help, How To Get Tax Help Tax return preparation fees, Legal and other professional fees. Irs gov Taxes Deduction of, Types of Expenses Local benefit taxes, Local benefit taxes. Irs gov Real estate taxes, Real estate taxes. Irs gov Transfer taxes, Settlement fees and other costs. Irs gov Theft losses, Theft. Irs gov Title insurance, Settlement fees and other costs. Irs gov Transfer taxes, Settlement fees and other costs. Irs gov Travel and transportation expenses Local transportation expenses, Types of Expenses, Local transportation expenses. Irs gov Recordkeeping, Travel expenses. Irs gov Rental expenses, Types of Expenses Standard mileage rate, Local transportation expenses. Irs gov U Uncollected rent Income, Uncollected rent. Irs gov Use of home Before or after renting, Days used as a main home before or after renting. Irs gov Change to rental use, Property Changed to Rental Use Days of personal use, What is a day of personal use? Fair rental price, Fair rental price. Irs gov Passive activity rules exception, Exception for Personal Use of Dwelling Unit Personal use as dwelling unit, Personal Use of Dwelling Unit (Including Vacation Home) Utilities, Types of Expenses, Increases to basis. Irs gov V Vacant rental property, Vacant rental property. Irs gov Vacation homes Dwelling unit, Dwelling unit. Irs gov Fair rental price, Fair rental price. Irs gov Personal use of, Personal Use of Dwelling Unit (Including Vacation Home) Valuation Fair market value, Fair market value. Irs gov Prev  Up     Home   More Online Publications
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National Flood Insurance Program (NFIP)

National Flood Insurance Program (NFIP)provides a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP.

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Website: National Flood Insurance Program (NFIP)

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The Irs Gov

Irs gov Publication 597 - Main Content Table of Contents Application of Treaty Personal Services Pensions, Annuities, Social Security, and AlimonyRoth IRAs. Irs gov Tax-deferred plans. Irs gov Investment Income From Canadian Sources Other Income Charitable ContributionsQualified charities. Irs gov Income Tax Credits Competent Authority Assistance How To Get Tax HelpText of Treaty U. Irs gov S. Irs gov Taxation Canadian Taxation Application of Treaty The benefits of the income tax treaty are generally provided on the basis of residence for income tax purposes. Irs gov That is, a person who is recognized as a resident of the United States who has income from Canada, will often pay less income tax to Canada on that income than if no treaty was in effect. Irs gov Article IV provides definitions of residents of Canada and the United States, and provides specific criteria for applying the treaty in cases where a taxpayer is considered by both countries to be a resident. Irs gov Saving clause. Irs gov   In most instances, a treaty does not affect the right of a country to tax its own residents (including those who are U. Irs gov S. Irs gov citizens) or of the United States to tax its residents or citizens (including U. Irs gov S. Irs gov citizens who are residents of the foreign country). Irs gov This provision is known as the “saving clause. Irs gov ”   For example, an individual who is a U. Irs gov S. Irs gov citizen and a resident of Canada may have dividend income from a U. Irs gov S. Irs gov corporation. Irs gov The treaty provides a maximum rate of 15% on dividends received by a resident of Canada from sources in the United States. Irs gov Even though a resident of Canada, the individual is a U. Irs gov S. Irs gov citizen and the saving clause overrides the treaty article that limits the U. Irs gov S. Irs gov tax to 15%. Irs gov    Exceptions to the saving clause can be found in Article XXIX, paragraph 3. Irs gov Treaty-based position. Irs gov   If you take the position that any U. Irs gov S. Irs gov tax is overruled or otherwise reduced by a U. Irs gov S. Irs gov treaty (a treaty-based position), you generally must disclose that position on Form 8833, Treaty-Based Return Position Disclosure Under Section 6114 or 7701(b), and attach it to your return. Irs gov Personal Services A U. Irs gov S. Irs gov citizen or resident who is temporarily present in Canada during the tax year is exempt from Canadian income taxes on pay for services performed, or remittances received from the United States, if the citizen or resident qualifies under one of the treaty exemption provisions set out below. Irs gov Income from employment (Article XV). Irs gov   Income U. Irs gov S. Irs gov residents receive for the performance of dependent personal services in Canada (except as public entertainers) is exempt from Canadian tax if it is not more than $10,000 in Canadian currency for the year. Irs gov If it is more than $10,000 for the year, it is exempt only if: The residents are present in Canada for no more than 183 days in any 12-month period beginning or ending in the year concerned, and The income is not paid by, or on behalf of, a Canadian resident and is not borne by a permanent establishment in Canada. Irs gov    Whether there is a permanent establishment in Canada is determined by the rules set forth in Article V. Irs gov Example. Irs gov You are a U. Irs gov S. Irs gov resident employed under an 8-month contract with a Canadian firm to install equipment in their Montreal plant. Irs gov During the calendar year you were physically present in Canada for 179 days and were paid $16,500 (Canadian) for your services. Irs gov Although you were in Canada for not more than 183 days during the year, your income is not exempt from Canadian income tax because it was paid by a Canadian resident and was more than $10,000 (Canadian) for the year. Irs gov Pay received by a U. Irs gov S. Irs gov resident for work regularly done in more than one country as an employee on a ship, aircraft, motor vehicle, or train operated by a U. Irs gov S. Irs gov resident is exempt from Canadian tax. Irs gov Income from self-employment (Article VII). Irs gov   Income from services performed (other than those performed as an employee) are taxed in Canada if they are attributable to a permanent establishment in Canada. Irs gov This income is treated as business profits, and deductions similar to those allowed under U. Irs gov S. Irs gov law are allowable. Irs gov   If you carry on (or have carried on) business in both Canada and the United States, the business profits are attributable to each country based on the profits that the permanent establishment might be expected to make if it were a distinct and separate person engaged in the same or similar activities. Irs gov The business profits attributable to the permanent establishment include only those profits derived from assets used, risks assumed, and activities performed by the permanent establishment. Irs gov   You may be considered to have a permanent establishment if you meet certain conditions. Irs gov For more information, see Article V (Permanent Establishment) and Article VII (Business Profits). Irs gov Public entertainers (Article XVI). Irs gov   The provisions under income from employment or income from self-employment do not apply to public entertainers (such as theater, motion picture, radio, or television artistes, musicians, or athletes) from the United States who receive more than $15,000 in gross receipts in Canadian currency, including reimbursed expenses, from their entertainment activities in Canada during the calendar year. Irs gov However, this provision for public entertainers does not apply (and the other provisions will apply) to athletes participating in team sports in leagues with regularly scheduled games in both the United States and Canada. Irs gov Compensation paid by the U. Irs gov S. Irs gov Government (Article XIX). Irs gov   Wages, salaries, and similar income (other than pensions) paid to a U. Irs gov S. Irs gov citizen by the United States or any of its agencies, instrumentalities, or political subdivisions for discharging governmental functions are exempt from Canadian income tax. Irs gov   The exemption does not apply to pay for services performed in connection with any trade or business carried on for profit by the United States, or any of its agencies, instrumentalities, or political subdivisions. Irs gov Students and apprentices (Article XX). Irs gov   A full-time student, apprentice, or business trainee who is in Canada to study or acquire business experience is exempt from Canadian income tax on remittances received from any source outside Canada for maintenance, education, or training. Irs gov The recipient must be or must have been a U. Irs gov S. Irs gov resident immediately before visiting Canada. Irs gov   An apprentice or business trainee can claim this exemption only for a period of one year from the date the individual first arrived in Canada for the purpose of training. Irs gov Pensions, Annuities, Social Security, and Alimony Under Article XVIII, pensions and annuities from Canadian sources paid to U. Irs gov S. Irs gov residents are subject to tax by Canada, but the tax is limited to 15% of the gross amount (if a periodic pension payment) or of the taxable amount (if an annuity). Irs gov Canadian pensions and annuities paid to U. Irs gov S. Irs gov residents may be taxed by the United States, but the amount of any pension included in income for U. Irs gov S. Irs gov tax purposes may not be more than the amount that would be included in income in Canada if the recipient were a Canadian resident. Irs gov Pensions. Irs gov   A pension includes any payment under a pension or other retirement arrangement, Armed Forces retirement pay, war veterans pensions and allowances, and payments under a sickness, accident, or disability plan. Irs gov It includes pensions paid by private employers and the government for services rendered. Irs gov   Pensions also include payments from individual retirement arrangements (IRAs) in the United States, registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs) in Canada. Irs gov   Pensions do not include social security benefits. Irs gov Roth IRAs. Irs gov   A distribution from a Roth IRA is exempt from Canadian tax to the extent it would be exempt from U. Irs gov S. Irs gov tax if paid to a U. Irs gov S. Irs gov resident. Irs gov In addition, you may elect to defer any tax in Canada on income accrued within the Roth IRA but not distributed by the Roth IRA. Irs gov However, you cannot defer tax on any accruals due to contributions made after you become a Canadian resident. Irs gov Tax-deferred plans. Irs gov   Generally, income that accrues in a Canadian RRSP or RRIF is subject to U. Irs gov S. Irs gov tax, even if it is not distributed. Irs gov However, a U. Irs gov S. Irs gov citizen or resident can elect to defer U. Irs gov S. Irs gov tax on income from the plan until the income is distributed. Irs gov Form 8891 is used to make the election. Irs gov Annuities. Irs gov    An annuity is a stated sum payable periodically at stated times, during life, or during a specified number of years, under an obligation to make the payments in return for adequate and full consideration (other than services rendered). Irs gov Annuities do not include: Non-periodic payments, or An annuity the cost of which was deductible for tax purposes. Irs gov Special rules. Irs gov    Special rules apply to pensions and annuities with respect to: Short-term assignments, Cross-border commuters, and Individuals who participate in a Canadian qualifying plan. Irs gov Generally, distributions in such cases are deemed to be earned in the country in which the plan is established, without regard to where the services were rendered. Irs gov Social security benefits. Irs gov   U. Irs gov S. Irs gov social security benefits paid to a resident of Canada are taxed in Canada as if they were benefits under the Canada Pension Plan, except that 15% of the amount of the benefit is exempt from Canadian tax. Irs gov Alimony. Irs gov   Alimony and similar amounts (including child support payments) from Canadian sources paid to U. Irs gov S. Irs gov residents are exempt from Canadian tax. Irs gov For purposes of U. Irs gov S. Irs gov tax, these amounts are excluded from income to the same extent they would be excluded from income in Canada if the recipient was a Canadian resident. Irs gov Investment Income From Canadian Sources The treaty provides beneficial treatment for certain items of Canadian source income that result from an investment of capital. Irs gov Dividends (Article X). Irs gov   For Canadian source dividends received by U. Irs gov S. Irs gov residents, the Canadian income tax generally may not be more than 15%. Irs gov   A 5% rate applies to intercorporate dividends paid from a subsidiary to a parent corporation owning at least 10% of the subsidiary's voting stock. Irs gov However, a 10% rate applies if the payer of the dividend is a nonresident-owned Canadian investment corporation. Irs gov   These rates do not apply if the owner of the dividends carries on, or has carried on, a business in Canada through a permanent establishment and the holding on which the income is paid is effectively connected with that permanent establishment. Irs gov Interest (Article XI). Irs gov   Generally, Canadian source interest received by U. Irs gov S. Irs gov residents is exempt from Canadian income tax. Irs gov   The exemption does not apply if the owner of the interest carries on, or has carried on, a business in Canada through a permanent establishment and the debt on which the income is paid is effectively connected with that permanent establishment. Irs gov Gains from the sale of property (Article XIII). Irs gov   Generally, gains from the sale of personal property by a U. Irs gov S. Irs gov resident having no permanent establishment in Canada are exempt from Canadian income tax. Irs gov However, the exemption from Canadian tax does not apply to gains realized by U. Irs gov S. Irs gov residents on Canadian real property, and on personal property belonging to a permanent establishment in Canada. Irs gov   If the property subject to Canadian tax is a capital asset and was owned by the U. Irs gov S. Irs gov resident on September 26, 1980, not as part of the business property of a permanent establishment in Canada, generally the taxable gain is limited to the appreciation after 1984. Irs gov Royalties (Article XII). Irs gov   The following are exempt from Canadian tax: Copyright royalties and other like payments for the production or reproduction of any literary, dramatic, musical, or artistic work (other than payments for motion pictures and works on film, videotape, or other means of reproduction for use in connection with television, which may be taxed at 10%), Payments for the use of, or the right to use, computer software, Payments for the use of, or the right to use, any patent or any information concerning industrial, commercial, or scientific experience (but not within a rental or franchise agreement), and Payments for broadcasting as agreed to in an exchange of notes between the countries. Irs gov   This rate or exemption does not apply if the owner of the royalties carries on, or has carried on, a business in Canada through a permanent establishment and the right or property on which the income is paid is effectively connected with that permanent establishment. Irs gov   This exemption (or lower rate) does not apply to royalties to explore for or to exploit mineral deposits, timber, and other natural resources. Irs gov Other Income Generally, Canadian source income that is not specifically mentioned in the treaty, may be taxed by Canada. Irs gov Gambling losses. Irs gov   Canadian residents may deduct gambling losses in the U. Irs gov S. Irs gov against gambling winnings in the U. Irs gov S. Irs gov in the same manner as a U. Irs gov S. Irs gov resident. Irs gov Charitable Contributions United States income tax return. Irs gov   Under Article XXI, you may deduct contributions to certain qualified Canadian charitable organizations on your United States income tax return. Irs gov Besides being subject to the overall limits applicable to all your charitable contributions under U. Irs gov S. Irs gov tax law, your charitable contributions to Canadian organizations (other than contributions to a college or university at which you or a member of your family is or was enrolled) are subject to the U. Irs gov S. Irs gov percentage limits on charitable contributions, applied to your Canadian source income. Irs gov If your return does not include gross income from Canadian sources, charitable contributions to Canadian organizations are generally not deductible. Irs gov Example. Irs gov You are a U. Irs gov S. Irs gov citizen living in Canada. Irs gov You have both U. Irs gov S. Irs gov and Canadian source income. Irs gov During your tax year, you contribute to Canadian organizations that would qualify as charitable organizations under U. Irs gov S. Irs gov tax law if they were U. Irs gov S. Irs gov organizations. Irs gov To figure the maximum amount of the contribution to Canadian organizations that you can deduct on your U. Irs gov S. Irs gov income tax return, multiply your adjusted gross income from Canadian sources by the percentage limit that applies to contributions under U. Irs gov S. Irs gov income tax law. Irs gov Then include this amount on your return along with all your domestic charitable contributions, subject to the appropriate percentage limit required for contributions under U. Irs gov S. Irs gov income tax law. Irs gov The appropriate percentage limit for U. Irs gov S. Irs gov tax purposes is applied to your total adjusted gross income from all sources. Irs gov Qualified charities. Irs gov   These Canadian organizations must meet the qualifications that a U. Irs gov S. Irs gov charitable organization must meet under U. Irs gov S. Irs gov tax law. Irs gov Usually an organization will notify you if it qualifies. Irs gov For further information on charitable contributions and the U. Irs gov S. Irs gov percentage limits, see Publication 526, Charitable Contributions. Irs gov Canadian income tax return. Irs gov   Under certain conditions, contributions to qualified U. Irs gov S. Irs gov charitable organizations may also be claimed on your Canadian income tax return if you are a Canadian resident. Irs gov Income Tax Credits The treaty contains a credit provision (Article XXIV) for the elimination of double taxation. Irs gov In general, the United States and Canada both allow a credit against their income tax for the income tax paid to the other country on income from sources in that other country. Irs gov For detailed discussions of the U. Irs gov S. Irs gov income tax treatment of tax paid to foreign countries, see Publication 514, Foreign Tax Credit for Individuals. Irs gov See paragraphs (4) and (5) of Article XXIV for certain provisions that affect the computation of the credit allowed by the United States for Canadian income taxes paid by U. Irs gov S. Irs gov citizens residing in Canada. Irs gov Competent Authority Assistance Under Article XXVI, a U. Irs gov S. Irs gov citizen or resident may request assistance from the U. Irs gov S. Irs gov competent authority when the actions of Canada, the United States, or both, potentially result in double taxation or taxation contrary to the treaty. Irs gov The U. Irs gov S. Irs gov competent authority may then consult with the Canadian competent authority to determine if the double taxation or denial of treaty benefits in question can be avoided. Irs gov If the competent authorities are not able to reach agreement in a case, binding arbitration proceedings may apply. Irs gov It is important that your request for competent authority assistance be made as soon as you have been notified by either Canada or the United States of proposed adjustments that would result in denial of treaty benefits or in double taxation. Irs gov This is so that implementation of any agreement reached by the competent authorities is not barred by administrative, legal, or procedural barriers. Irs gov For information that you should include with your request for competent authority assistance, see Revenue Procedure 2006-54, 2006-49 IRB 1035, available at www. Irs gov irs. Irs gov gov/irb/2006-49_IRB/ar13. Irs gov html. Irs gov The request should be addressed to:  Deputy Commissioner (International) Large Business and International Division Attn: Office of Tax Treaty  Internal Revenue Service 1111 Constitution Ave. Irs gov , NW Routing: MA3-322A Washington, D. Irs gov C. Irs gov 20024 In addition to a timely request for assistance, you should take the following measures: File a timely protective claim for credit or refund of U. Irs gov S. Irs gov taxes on Form 1040X, Form 1120X, or amended Form 1041, whichever is appropriate. Irs gov This will, among other things, give you the benefit of a foreign tax credit in case you do not qualify for the treaty benefit in question. Irs gov For figuring this credit, attach either Form 1116, Foreign Tax Credit (Individual, Estate, or Trust), or Form 1118, Foreign Tax Credit — Corporations, as appropriate. Irs gov Attach your protective claim to your request for competent authority assistance. Irs gov Take appropriate action under Canadian procedures to avoid the lapse or termination of your right of appeal under Canadian income tax law. Irs gov How To Get Tax Help You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get information from the IRS and the Canada Revenue Agency in several ways. Irs gov Text of Treaty You can get the text of the U. Irs gov S. Irs gov —Canada income tax treaty from: Superintendent of Documents U. Irs gov S. Irs gov Government Printing Office P. Irs gov O. Irs gov Box 371954 Pittsburgh, PA 15250-7954 The treaty can also be found on the Internet at IRS. Irs gov gov. Irs gov U. Irs gov S. Irs gov Taxation During the filing season, the IRS conducts a taxpayer assistance program in Canada. Irs gov To find out if IRS personnel will be in your area, you should contact the consular office at the nearest U. Irs gov S. Irs gov Embassy or consulate. Irs gov Mail. Irs gov For answers to technical or account questions, you can write to:   Internal Revenue Service International Section Philadelphia, PA 19255-0525 Phone. Irs gov You can call the IRS for help at (267) 941-1000 (not a toll-free call). Irs gov Canadian Taxation You can get information on Canadian taxation from the Canada Revenue Agency. Irs gov The International Tax Services Office can be contacted on 1-800-267-5177 (from anywhere in Canada and the U. Irs gov S. Irs gov ) or on the Internet at www. Irs gov cra-arc. Irs gov gc. Irs gov ca. Irs gov Prev  Up  Next   Home   More Online Publications