Serbinski Accounting Firms

Yes really. As I said, I have income in my RRSP, but that is not declared. Working-full time for government. Paying bills. No money left.

Anyway thanks for your help. Much appreciated.

Yes I indicated my gross income on form 8833 and indicated it was exempt as per treaty. However I did not indicate it on the 1040. Should I have put it on the 1040 and put a negative on another line? The only other income is within my RRSP.

One more thing. I never indicated on my 1040 my gross income. I just attached form 8833. However as I said, when I e-filed last year with TAXACT never had an issue.

Thanks Nelsona. Since I used IRS free file, I wonder if they even saw my form 8833. The only other reason for the form 2555 would be for the presence test. I am getting a Refundable American opportunity credit for my kids tuition I paid. I will reply to the form letter with a copy of my Form 8833 an...

So I filed my 2017 1040 along with form 8833 claiming at treaty exemption for my and my wife gross employment income as per article XIX of the Canada-US tax treaty. We are dual citizens and both work for the Federal government. Therefore I had no employment income to report on the 1040. I just recei...

What value do I put, if I don't it. I have a defined Benefit Plan from the Canadian Government. Do I just put 0? Do I need to report it on 8938?

Sorry did not see it :oops:

See news release for the IRS website: http://www.irs.gov/uac/Newsroom/IRS-Sim ... quirements

Have you used a tax software to do your taxes? Seems to me you maybe doing a calculation error. or forgetting something. There are free software out there to do your US taxes.

Here is some info I found on PFIC

Treatment of United States Persons that Own Stock of Passive Foreign Investment Companies Through Certain Organizations and Accounts that Are Tax Exempt

Notice 2014-28

Here is the link

http://www.irs.gov/pub/irs-drop/n-14-28.pdf

Thanks Nelsona, that is what I though.

I recommend you buy Turbotax or Taxact to do your US taxes. The software is very easy to use and I trust it more than some tax preparer. The advantage of Taxact is that you can file your FinCEN forms with it. You can also buy the canadian version to Turbo tax to do your Canadian taxes.

Are line of credits or mortgages to be reported on FinCEN (FBAR). Are these considered accounts for FinCEN purposes? This is money I owe. So there is no positive value. I have not been reporting these, since these are like credit cards. You do not report the approved credit value of your credit card...

I meant FinCEN report

Does this mean the FBAR will be replaced by FATCA and we don't need to fill out the FBAR forms anymore?