Search found 10 matches

by Lilia
Fri Mar 29, 2019 12:21 pm
Forum: Canada / United States Tax & Accounting
Topic: How to enter RRSP withdrawal (NR4 with code 43) into US tax
Replies: 17
Views: 992

Re: How to enter RRSP withdrawal (NR4 with code 43) into US tax

I entered all Canadian tax I paid using itemized method and got some refund. I did not expect that taxes I paid for Canada will be returned by US.
Is it normal situation?
by Lilia
Fri Mar 29, 2019 12:14 pm
Forum: Canada / United States Tax & Accounting
Topic: How to enter RRSP withdrawal (NR4 with code 43) into US tax
Replies: 17
Views: 992

Re: How to enter RRSP withdrawal (NR4 with code 43) into US tax

Thank you very very much! Good bless you and people like you for helping others!
by Lilia
Thu Mar 28, 2019 6:00 pm
Forum: Canada / United States Tax & Accounting
Topic: How to enter RRSP withdrawal (NR4 with code 43) into US tax
Replies: 17
Views: 992

Re: How to enter RRSP withdrawal (NR4 with code 43) into US tax

sorry, just one clarification on book value: my RRSP were a 5 years GIC with maternity year 2018. I left Canada in 2017 when there was one year left. I do have a statement how much money was on my account when I left. On maternity day in 2018 I withdraw all the money and closed RRSP. What will be co...
by Lilia
Thu Mar 28, 2019 3:07 pm
Forum: Canada / United States Tax & Accounting
Topic: How to enter RRSP withdrawal (NR4 with code 43) into US tax
Replies: 17
Views: 992

Re: How to enter RRSP withdrawal (NR4 with code 43) into US tax

nelsona wrote:
> Other question: why isn't yoy tax paid exactly 1/4 of your gross
> withdrawal. the withdrawals and withholding tax were done on the same
> date(s), no?
it was done at the same date and withholding tax is 25% ($75315*100/$301412)=24.99 %)
by Lilia
Thu Mar 28, 2019 3:02 pm
Forum: Canada / United States Tax & Accounting
Topic: How to enter RRSP withdrawal (NR4 with code 43) into US tax
Replies: 17
Views: 992

Re: How to enter RRSP withdrawal (NR4 with code 43) into US tax

we've arrived to US in 2017 having RRSP as $295,888. That number I consider as non taxable.
Gross withdrawal in 2018(As of date of withdrawal) was $301,412
Taxable Ratio ($301,412 - $295,888)/$301412 = 0.018

That is why I think the Taxable portion is $301,412 * 0.018 = $5,523
Is that correct?
by Lilia
Thu Mar 28, 2019 2:25 pm
Forum: Canada / United States Tax & Accounting
Topic: How to enter RRSP withdrawal (NR4 with code 43) into US tax
Replies: 17
Views: 992

Re: How to enter RRSP withdrawal (NR4 with code 43) into US tax

Thank you so much for your reply. Really-really appropriate your help. Non taxable (as of date we've arrived to US in 2017) 295,888 Gross withdrawal in 2018(As of date of withdrawal) 301,412 Taxable ratio: 0.018 Taxable portion 5,523 Total Taxes paid to Canada (25%) on Gross withdrawal 75,315 I am u...
by Lilia
Thu Mar 28, 2019 3:32 am
Forum: Canada / United States Tax & Accounting
Topic: How to enter RRSP withdrawal (NR4 with code 43) into US tax
Replies: 17
Views: 992

Re: How to enter RRSP withdrawal (NR4 with code 43) into US tax

I do not even know how I could express my gratitude for you advice! :-) THAN YOU for your support, your prompt response, for sharing your knowledge and expertise with other people! Using your directions I was able to enter correctly the RRSP withdrawal. As per entering the tax withheld, I am getting...
by Lilia
Wed Mar 27, 2019 1:08 am
Forum: Canada / United States Tax & Accounting
Topic: How to enter RRSP withdrawal (NR4 with code 43) into US tax
Replies: 17
Views: 992

How to enter RRSP withdrawal (NR4 with code 43) into US tax

Hi, We are a green card holders and now live in US (as of 2017). During 2018, we withdraw a big part of our Canadian RRSP (US version of a 401k plan) and got a Canadian "NR4" form with income type code 43 (RRSP - Lump-sum payments). NR4 Box 14 = 43 RRSP - Lump-sum payments NR4 Box 16 = 300k - Gross ...