I am Canadian, I live in Canada, I am NOT a US resident. I have an account with TD and day trade. I trade stocks from NASDAQ and NYSE. I went to H&R Block to file my taxes and they were a bit lost. Am I suppose file taxes in the US also? I would like to know what the procedure is to file taxes for Canadian day traders.
Don’t go to H&R block. Most them at tax time are seasonal workers using nothing more then an in-house turbo tax. Go find an actual accountant or do it yourself. Be way cheaper then the fees H&R charge.
If the money is your sole source of income and you bring the money into Canada and deposited it into a Canadian bank although the money was originally U.S. profits...you have to pay taxes here in Canada. Go get a tax accountant (not H&R Block) that's familiar with taxes for canadians doing business in the U.S. and double taxation laws (how to avoid such). Also, call your provincial revenue and federal tax help line because it gets complicated if you have another job as in the money is not your sole source of income. By the way, trying to find a tax accountant in Canada that's familiar with tax laws in both the U.S. and Canada is difficult or almost impossible this time of the year. If trading is your sole source of income...you're considered self - employed...tax deadline is June 15. Yet, if you owe money...you still must pay by April 30th to avoid penalities.
The OP is Canadian, and living in Canada. Any forms would be from the CRA - Canadian Revenue Agency. https://www.canada.ca/en/revenue-agency.html
Maybe check if there is no double tax treaty between the US and Canada. Most Westerns countries have them, also with the US. I think there is one ,watch pdf added.
You don't pay or file in the US. You pay and file in Canada. You should also have paid only half the normal rate of US dividend withholding tax because of US/CAN tax treaty.