Form 7004 - extension 3520-A

uscannew · Post by **uscannew** » Mon Mar 02, 2015 12:06 pm

I have my 3520-A/3520 completed for 2014 tax year (final year - closed acct in 2014), but am awaiting a summary of transactions and tax slips from Cdn institution holding TFSA that I will use to cross-check the work I've done. With the Mar 15th date looming, I want to have the 7004 extension form completed and ready to go in case of delay in receiving this info.

So, a quick question re: Line 6 (form 7004) is for 'tentative total tax'. Since any income/loss generated from the TFSA ends up being reported on 1040, can I put 'zero' in lines 6/7/8? Of course, any tax that might be owing after filing 1040 (done by an accting firm) will be paid at that time.

nelsona · Post by **nelsona** » Mon Mar 02, 2015 12:37 pm

I see no problem with that.

uscannew · Post by **uscannew** » Mon Mar 02, 2015 1:26 pm

thanks nelsona