Search found 24 matches
- Tue May 23, 2017 4:46 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Preparation of 8621 for PFIC & Other QEF Questions
- Replies: 12
- Views: 9032
- Tue May 23, 2017 11:18 am
- Forum: Canada / United States Tax & Accounting
- Topic: Preparation of 8621 for PFIC & Other QEF Questions
- Replies: 12
- Views: 9032
Thanks MGeorge! You seem to be the most knowledgeable on PFICs and QEFs on the forum and I've reviewed several of your very helpful posts to figure out 8621! Thanks for sharing your knowledge! So going with Election A every year I would pay ordinary tax rate on distributions (which would mostly be o...
- Thu May 18, 2017 5:41 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Preparation of 8621 for PFIC & Other QEF Questions
- Replies: 12
- Views: 9032
Preparation of 8621 for PFIC & Other QEF Questions
I've decided going forward I am going to do my own taxes in future years. I think I have a handle on most aspects but am still trying to wrap my head around 8621. I have not yet made any non-RRSP (tax sheltered) investments so I don't yet own any 8621-requiring investments. But I am just going to bu...
- Thu Apr 27, 2017 12:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 8965 for Canadian
- Replies: 6
- Views: 4849
MGeorge, The reason I was hoping to avoid exemption C and 8965 is the accountant charges $200 for it. So avoiding the form would save a fair bit of money. Nelsona, I do have health coverage but the accountant is saying it's not sufficient since I am no longer a resident of the US I can't use the box...
- Wed Apr 26, 2017 5:33 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 8965 for Canadian
- Replies: 6
- Views: 4849
Form 8965 for Canadian
Hi, I'm still debating if 8965 is really required for Canadian residents. I called the IRS and the person I spoke with there said that because Canada has health coverage this form wouldn't need to be filed. 8965 with exemption C is necessary if you're outside the US for the year but don't have healt...
- Tue Apr 18, 2017 5:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Required to file Form 8965 (Health Coverage)?
- Replies: 12
- Views: 6992
Thanks for the responses Nelsona!! I'm going to get the 1095-A. And yes, I'll be searching for help elsewhere if this doesn't get resolved. I'm guessing being a non-US resident but still being on my parent's health coverage is causing some issues in the software/system which is why it directs to the...
- Tue Apr 18, 2017 5:08 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Required to file Form 8965 (Health Coverage)?
- Replies: 12
- Views: 6992
- Tue Apr 18, 2017 4:37 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Required to file Form 8965 (Health Coverage)?
- Replies: 12
- Views: 6992
- Tue Apr 18, 2017 4:21 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Required to file Form 8965 (Health Coverage)?
- Replies: 12
- Views: 6992
Reviewing the instructions determining if you need to file is in the following order: 1. Can you be claimed as dependent? 2. Did you have minimum necessary health coverage? 3. Are you eligible for an exemption? In my opinion because I qualify for #2 (and hence, don't proceed to question #3) 8965 doe...
- Tue Apr 18, 2017 4:02 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Required to file Form 8965 (Health Coverage)?
- Replies: 12
- Views: 6992
Required to file Form 8965 (Health Coverage)?
Hi, I'm trying to figure out if I need to file 8965. I was a resident of Canada throughout 2016. Based on that I would need to file an exemption on the form. However, I am under 26 and my parents paid for me to remain on their insurance (they live in the US). Based on the instructions for the form o...
- Wed Apr 12, 2017 1:45 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 1099-DIV and RRSP
- Replies: 9
- Views: 4849
- Wed Apr 12, 2017 12:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 1099-DIV and RRSP
- Replies: 9
- Views: 4849
- Wed Apr 12, 2017 11:12 am
- Forum: Canada / United States Tax & Accounting
- Topic: 1099-DIV and RRSP
- Replies: 9
- Views: 4849
- Wed Apr 12, 2017 11:06 am
- Forum: Canada / United States Tax & Accounting
- Topic: 1099-DIV and RRSP
- Replies: 9
- Views: 4849
- Wed Apr 12, 2017 10:42 am
- Forum: Canada / United States Tax & Accounting
- Topic: 1099-DIV and RRSP
- Replies: 9
- Views: 4849
1099-DIV and RRSP
I'm a US/Canadian citizen living in Canada. I've noticed that my brokerage (Virtual Brokers) provided a 1099-DIV for my RRSP account. My understanding is that dividends from the RRSP account do not need to be reported to the IRS. Why would they have provided that form? Also, I used Serbinski for my ...