Search found 181 matches
- Wed Dec 22, 2010 11:55 am
- Forum: Canada / United States Tax & Accounting
- Topic: How to report inheritance from Canada
- Replies: 7
- Views: 5893
Re: Inheritance from Canada
[quote="Philmb"]I am relieved to hear that a bequest from a Canadian's will of $25,000 is not reportable on my US tax returns. I have looked everywhere unsuccessfully for the IRS rules that state inheritances of less than $100,000 do not need to be reported. Can you tell me what the rule #...
- Fri Oct 16, 2009 10:03 am
- Forum: Canada / United States Tax & Accounting
- Topic: US Citizen employed in US with PR in Canada
- Replies: 5
- Views: 3959
- Fri Feb 20, 2009 8:18 am
- Forum: Canada / United States Tax & Accounting
- Topic: US resident with a Canadian RRSP
- Replies: 16
- Views: 14917
- Mon Jan 05, 2009 9:02 am
- Forum: Canada / United States Tax & Accounting
- Topic: TD F 90-22.1 and Paypal
- Replies: 4
- Views: 4058
I've re-read the form instructions and they say this:
"Account in a Foreign Country. A “foreign country†includes
all geographical areas located outside the United States. See
“United States Person†above 31 C.F.R. 103.11(nn) for a
definition of United States. The geographical location of the
account, not the nationality of the financial entity institution in
which the account is found determines whether it is in an
account in a foreign country. Report any financial account
(except a military banking facility) that is located in a foreign
country, even if it is held at an affiliate of a United States
bank or other financial institution. Do not report any account
maintained with a branch, agency, or other office of a foreign
bank of other institution that is located in the United States."
What is the gepgraphical location of a PayPal account?? Is it a virtual account?
"Account in a Foreign Country. A “foreign country†includes
all geographical areas located outside the United States. See
“United States Person†above 31 C.F.R. 103.11(nn) for a
definition of United States. The geographical location of the
account, not the nationality of the financial entity institution in
which the account is found determines whether it is in an
account in a foreign country. Report any financial account
(except a military banking facility) that is located in a foreign
country, even if it is held at an affiliate of a United States
bank or other financial institution. Do not report any account
maintained with a branch, agency, or other office of a foreign
bank of other institution that is located in the United States."
What is the gepgraphical location of a PayPal account?? Is it a virtual account?
- Mon Jan 05, 2009 8:51 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Company owned by a US company
- Replies: 1
- Views: 2364
- Mon Jan 05, 2009 8:49 am
- Forum: Canada / United States Tax & Accounting
- Topic: TD F 90-22.1 and Paypal
- Replies: 4
- Views: 4058
- Wed Apr 16, 2008 10:54 am
- Forum: Canada / United States Tax & Accounting
- Topic: Amending US Tax Return/8891
- Replies: 3
- Views: 3996
- Wed Apr 16, 2008 10:52 am
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP on World Income
- Replies: 2
- Views: 2950
As long as you have RRSP contribution room, you can make contributions, but to what end? You would have a Canadian deduction, but none in the US. Though, you might want to consider making an RRSP contribution, but only enough so that it offsets the extra Canadian tax after the foreign tax credit on ...
- Tue Apr 15, 2008 10:21 am
- Forum: Canada / United States Tax & Accounting
- Topic: US citizen with complicated CA tax issues
- Replies: 2
- Views: 3257
- Mon Apr 14, 2008 8:08 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Article XVII (7)
- Replies: 11
- Views: 8918
- Mon Apr 14, 2008 7:59 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Article XVII (7)
- Replies: 11
- Views: 8918
- Mon Apr 14, 2008 12:58 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Article XVII (7)
- Replies: 11
- Views: 8918
- Mon Apr 14, 2008 12:56 pm
- Forum: Canada / United States Tax & Accounting
- Topic: COMPLEX CANADA / US INCORPORATION QUESTION
- Replies: 1
- Views: 2414
Your question is a multi jurisdictional tax and business question. It certainly isn't a simple question that should be answered on the internet. Do yourself a favour and speak with a CPA or tax attorney at a large US firm with international connections. Be prepared to pay significant dollars to get ...
- Sat Apr 12, 2008 10:37 am
- Forum: Canada / United States Tax & Accounting
- Topic: Article XVII (7)
- Replies: 11
- Views: 8918
- Thu Apr 10, 2008 10:17 am
- Forum: Canada / United States Tax & Accounting
- Topic: How to report inheritance from Canada
- Replies: 7
- Views: 5893