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When to roll over IRA to RRSP?

hena

Newbie
Nov 10, 2014
1
0
Hi,

My situation is the next.
I lived and have income in USA for the first 3 monts(2014).
After that moved to Canada as a permanent resident and have
income here. Next year(2015) I expect to live in Canada whole year.

I have IRA in USA that I would like to transfer to Canada as RRSP.
Is it beneficial to do in 2014 or 2015?

On one hand if I do it in 2015 I can use US taxes as deduction in Canada
for 2015, plus I can apply personal deductions in US 1040NR in when fill
it in 2016 that should not be reported in Canada.
Is it a legitimate action?

On another hand, if I do it in 2014, I can file my US taxes as US resident
(last year of residency) thus would get higher deductions. And again,
deductions should not be reported in Canada later.
Is it a legitimate?

So can you please share your experience what would be a legal actions
in my case? And what would be the most beneficial action for me in
general (2014 vs 2015) ?

Thank you in advance!
Hena.