Search found 4 matches

by davidrbaker3971
Tue Apr 02, 2019 8:41 pm
Forum: Canada / United States Tax & Accounting
Topic: US tax for RRSP RIF distribution Taxable and Foreign tax Credit
Replies: 26
Views: 3272

Re: US tax for RRSP RIF distribution Taxable and Foreign tax Credit

in another post you noted that CPP and OAS can be added to 1116 as General limit income. Can that be done even though the actual taxable income is also reported under equivalent to social security income without acting as a double entry of that CPP/OAS income? and also that there is no foreign tax c...
by davidrbaker3971
Sun Feb 24, 2019 2:21 pm
Forum: Canada / United States Tax & Accounting
Topic: US tax for RRSP RIF distribution Taxable and Foreign tax Credit
Replies: 26
Views: 3272

Re: US tax for RRSP RIF distribution Taxable and Foreign tax Credit

i did file the required forms with the balances and earnings for the tax dreferrrals under the USA canada income tax convention, so I have the reported value of the RRSP account from the year I moved and up till 2014 when that filing was no longer required, Just not sure if the actual values as repo...
by davidrbaker3971
Sun Feb 24, 2019 12:08 am
Forum: Canada / United States Tax & Accounting
Topic: US tax for RRSP RIF distribution Taxable and Foreign tax Credit
Replies: 26
Views: 3272

Re: US tax for RRSP RIF distribution Taxable and Foreign tax Credit

So in that case it is on a contribution basis. I moved to the US in 1996 and have no records of my contributions, just what my rrsp was valued at then. I am now taking distributions from a converted RRIF. Will I have to say that 100% of the RRIF is taxable? Seems like it should be based on actual va...
by davidrbaker3971
Sat Feb 23, 2019 9:24 pm
Forum: Canada / United States Tax & Accounting
Topic: US tax for RRSP RIF distribution Taxable and Foreign tax Credit
Replies: 26
Views: 3272

Re: US tax for RRSP RIF distribution Taxable and Foreign tax Credit

Please clarify cost basis determination.
Is it the amount of your total contributions over the time the RRSP was active in Canada or is the value of the RRSP when you leave Canada and enter the USA?