Just to add to what others have said - I work as a tax preparer and see this situation a lot with gig economy workers. The key thing to understand is that in Canada, ALL income is taxable regardless of source or amount. There's no "minimum threshold" before you have to report it. For FeetFinder specifically, this would definitely be considered self-employment income since you're providing a service/product for payment. You'll report it on Form T2125 as part of your personal tax return. One thing people often miss is that you can deduct legitimate business expenses against this income - things like photography equipment, props, a portion of your internet/phone bills, and yes, even personal grooming expenses if they're directly related to your business. Just make sure to keep all receipts and that the expenses are reasonable. Also, don't forget about CPP contributions - you'll need to pay both the employee and employer portions on your self-employment income, which can be a surprise for first-time self-employed folks. Plan to set aside about 25-30% of your earnings for taxes and CPP.

Just wanted to add a practical tip that's helped me a lot - open a separate bank account specifically for your side hustle income and expenses. This makes tracking everything SO much easier at tax time. I deposit all my platform earnings into this dedicated account and use it to pay for any business-related expenses. At the end of the year, I just need to look at one account statement instead of trying to sort through all my personal transactions to find the business ones. Also, consider using a simple spreadsheet or app to track your monthly earnings and expenses as you go. I learned this the hard way after my first year when I had to dig through hundreds of screenshots and receipts trying to piece everything together. Now I just spend 10 minutes each month updating my records and tax time is a breeze! The key is setting up good systems from the start rather than trying to organize everything retroactively.

This has been such an incredibly comprehensive and helpful discussion! As someone currently on F1-OPT from Germany, I was dealing with the exact same confusion about tax residency when filling out paperwork for a new contract position. The key insight that finally made everything click was understanding that "tax residency" for form purposes is completely different from where you actually live and pay taxes. Even though I've been in the US for 3 years, paying federal and state taxes on all my income, I'm still considered a non-resident alien due to the 5-year rule for F1 students. I ended up using the W-8BEN form and listing Germany as my country of tax residence, which felt really weird at first since I haven't filed German taxes in years! But understanding that this is purely about US tax classification for withholding purposes (not about actual tax obligations) made it much clearer. One thing I'd add that helped me was checking the US-Germany tax treaty provisions mentioned earlier in this thread. I discovered I actually qualified for some reduced withholding on certain types of income, which saved me money on my quarterly estimated tax payments. The resources shared here have been invaluable - especially the IRS International Taxpayer Service Line and Publication 519. I also used taxr.ai to double-check my understanding and it confirmed my approach was correct. For anyone still confused about this: you'll complete W-8BEN with your home country as tax residence, but you'll still pay full US taxes on your US earnings. The form is just about proper classification, not exemption from US taxes. Thanks everyone for making this complex topic so much more manageable!

This thread has been absolutely invaluable! As someone who just started my F1-OPT period and was completely stressed about the tax residency forms my employer sent me, you've all provided such clarity on what seemed like an impossible situation. The key breakthrough for me was understanding that "tax residency" on forms like W-8BEN is purely about your US tax classification status, not about where you physically live or actually pay taxes. I've been in the US for 2 years on my F1 visa, so I'm definitely still within that 5-year non-resident alien window, which means I need the W-8BEN form listing my home country (Nigeria) as my tax residence. What initially seemed so counterintuitive - listing Nigeria when I haven't been there in years and pay all my taxes in the US - now makes complete sense as a classification issue rather than an actual tax obligation issue. I'm definitely going to check out several of the resources mentioned here, especially taxr.ai for verification and the IRS International Taxpayer Service Line for any specific questions. The idea of creating a reference sheet with my F1 entry date and year count is brilliant too - would have saved me so much digging through old documents! Thank you all for turning what felt like an overwhelming tax nightmare into something completely manageable. This community discussion should honestly be required reading for every international student starting OPT!

This has been such an educational thread! I'm dealing with a similar situation but wanted to add another perspective that might help others. I had about $16,000 in regular income and $12,000 in long-term capital gains last year. Like everyone else here, I was confused when my tax bill went up despite the gains being taxed at 0%. After reading through all these responses and doing some digging, I discovered it was actually affecting multiple things on my return. Not only did I lose most of my Earned Income Credit (which I didn't even realize I was getting before), but it also reduced my eligibility for the Premium Tax Credit for my ACA health insurance. That second part was a surprise - I had no idea that capital gains could affect your healthcare premium subsidies, but they count toward the income calculations for that too. The lesson I learned is that "0% capital gains tax" is really misleading terminology. It should be called "0% direct tax on capital gains, but they still count as income for literally everything else." Understanding this has completely changed how I think about timing investment sales, especially since I'm still in a relatively low income bracket where these credits make a big difference. For anyone else dealing with this, definitely look at the Premium Tax Credit implications if you get insurance through the marketplace - that was actually a bigger impact than the EITC loss in my case!

This entire thread has been incredibly enlightening! As someone who's been investing for a few years but never really understood the tax implications beyond "long-term gains are better," this discussion has been a real eye-opener. What strikes me most is how the term "0% capital gains tax" is so misleading. It makes it sound like these gains have zero impact on your taxes, when in reality they can significantly affect your overall tax liability through credit reductions. I wish more financial education resources explained this nuance upfront. I'm curious - for those who have been managing this strategically, do you find it worthwhile to use tax software that shows you the projected impact on credits before you actually sell investments? It seems like having that visibility could really help with timing decisions, especially for those of us in lower income brackets where credits make up a substantial portion of our refunds. Also, has anyone looked into whether Roth IRA conversions might be affected similarly? I've been considering converting some traditional IRA funds to Roth while my income is low, but now I'm wondering if that conversion income would have the same credit-reducing effects as capital gains, even though it might not be subject to much direct taxation.

One additional tip that might help others in this situation - if you're still within the 60-day window and haven't redeposited yet, consider doing a direct trustee-to-trustee transfer instead of a personal rollover if possible. What I mean is, if you still have the distributed funds and can work with your IRA custodian, sometimes they can facilitate putting the money back as a direct transfer rather than you personally depositing it. This can sometimes avoid confusion with the 1099-R/5498 reporting altogether. Obviously this doesn't help @Aaliyah Jackson since she already completed her rollover (and did it correctly!), but for anyone else reading this thread who finds themselves in a similar situation, it's worth asking your financial institution about this option. Some custodians are more flexible about this than others. That said, the personal rollover route that Aaliyah took is perfectly valid and very common. The key is just making sure to properly report it as everyone has explained - report the 1099-R but indicate it was rolled over so it doesn't get taxed.

This is such a valuable discussion! I've been lurking here trying to figure out my own IRA rollover situation, and this thread answered literally every question I had. One thing I want to emphasize for anyone else dealing with this - don't panic when you see that 1099-R! I almost had a heart attack when I got mine showing a huge distribution that I thought I'd have to pay taxes on. But as everyone here has confirmed, the key is just making sure you properly indicate the rollover when filing. For what it's worth, I used TaxSlayer (another tax software option) and it handled the rollover situation really well. When I entered my 1099-R information, it specifically asked "Was any portion of this distribution rolled over to another retirement account?" I answered yes, entered the rollover amount, and the software immediately zeroed out the taxable portion. The bottom line is that all the major tax software programs can handle this situation - you just have to make sure you don't skip over the rollover questions when entering your 1099-R. Keep both your 1099-R and 5498 as documentation, and you should be all set. Thanks to everyone who shared their experiences and expertise here. This community is incredibly helpful during tax season!

I just wanted to add another perspective as someone who's been dealing with RSU tax issues for years. One thing that really helped me was reaching out to my company's HR or equity compensation team directly. Many companies have dedicated support for employees dealing with tax questions around RSUs, and they often have resources or even partnerships with tax professionals who specialize in equity compensation. My company actually provides a detailed tax guide every year that explains exactly how to handle the cost basis adjustments in different tax software, including TurboTax. They also have sample calculations showing the difference between sell-to-cover and regular sales. It might be worth checking if your employer has similar resources before spending too much time trying to figure this out on your own. Also, if you're planning to continue receiving RSUs in future years, consider setting up a systematic approach now. I keep a simple spreadsheet that tracks every vesting event with the date, number of shares, FMV, and whether shares were sold to cover taxes. It makes tax season so much easier when you have everything organized from the start rather than trying to reconstruct it months later.

I've been following this thread and wanted to share another approach that might help. If you're still having trouble manually adjusting each transaction, you can also try exporting your transaction history directly from E*Trade and cross-referencing it with your equity portal data before even importing into TurboTax. E*Trade allows you to download a detailed CSV file of all your transactions for the year, which includes more granular information than what appears on the 1099-B. In this export, you can often see transaction types like "Journal" or "Stock Plan Activity" which correspond to the sell-to-cover events. This makes it much easier to identify which transactions need cost basis adjustments. Once you have this mapping, you can either manually enter the transactions in TurboTax with the correct cost basis from the start, or import the 1099-B and then make targeted adjustments only to the transactions you've identified as needing correction. This approach has saved me a lot of time compared to going through every single transaction blindly. The key is getting organized with your data first, then working with the tax software rather than trying to fix everything after the import has already created confusion.