Search found 10 matches
- Sun Oct 11, 2020 9:24 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 8833, Form 8938 and RRSP
- Replies: 0
- Views: 10744
Form 8833, Form 8938 and RRSP
Hello Nelsona, I am filing 1040 for the first time as a US resident. I am planning to attach form 8833 with the election in regards to Rev Proc 10-19 for step-up in ACB cost. I also have an RRSP which has a stock that pays dividends. a) Do I need to attach a separate form 8833 for my RRSP account? O...
- Sun May 24, 2020 3:31 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Deemed disposition proof
- Replies: 7
- Views: 3059
Re: Deemed disposition proof
I do need to attach forms T1243 and/or T1161 to my 1040 for IRS though, correct? If I understood correctly that's what Rev Proc 10-19 says: "The individual must attach documentation establishing the fair market value of the property, as determined under Canada’s deemed disposition rules, and co...
- Sun May 24, 2020 3:22 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Deemed disposition proof
- Replies: 7
- Views: 3059
Re: Deemed disposition proof
I do need to attach forms T1243 and/or T1161 to my 1040 for IRS though, or not?
If I understood correctly that's what Rev Proc 10-19 says.
If I understood correctly that's what Rev Proc 10-19 says.
- Sun May 24, 2020 3:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Deemed disposition proof
- Replies: 7
- Views: 3059
Re: Deemed disposition proof
Thanks!
- Sun May 24, 2020 2:22 am
- Forum: Canada / United States Tax & Accounting
- Topic: Capital Gains - California
- Replies: 1
- Views: 1155
Capital Gains - California
Hello, Filing my 1st California Tax return after emigrating from Canada in 2019. I sold 4 out of 5 stocks listed on my Canadian deemed disposition forms in 2019, so I will have to declare capital gain on my US & California return. 1. How would I calculate capital gains on those sales for Califor...
- Sun May 24, 2020 12:52 am
- Forum: Canada / United States Tax & Accounting
- Topic: Deemed disposition proof
- Replies: 7
- Views: 3059
Deemed disposition proof
Hello,
I was wondering if I need to attach to my paper return to CRA and IRS the proof of the stocks deemed disposition book values and FMV for the departure forms T1243 and T1116?
Thank you!
I was wondering if I need to attach to my paper return to CRA and IRS the proof of the stocks deemed disposition book values and FMV for the departure forms T1243 and T1116?
Thank you!
- Sun May 24, 2020 12:45 am
- Forum: Canada / United States Tax & Accounting
- Topic: Statement of World Income
- Replies: 5
- Views: 2261
Re: Statement of World Income
Sorry, to clarify did you mean Rev Proc 2010-19?
I am not familiar with the other...
I am not familiar with the other...
- Thu May 21, 2020 11:33 am
- Forum: Canada / United States Tax & Accounting
- Topic: Emigrant return T1161 & T1243
- Replies: 24
- Views: 8670
Re: Emigrant return T1161 & T1243
Thank you, I think it makes sense that it is June.
But what I'm confused about is how would I do my US taxes if I use end of June as the deemed disposition date, but US considers me resident since Jan st 2019?
Wouldn't they want deemed disposition numbers as of Jan 1st instead?
But what I'm confused about is how would I do my US taxes if I use end of June as the deemed disposition date, but US considers me resident since Jan st 2019?
Wouldn't they want deemed disposition numbers as of Jan 1st instead?
- Thu May 21, 2020 11:25 am
- Forum: Canada / United States Tax & Accounting
- Topic: Statement of World Income
- Replies: 5
- Views: 2261
Re: Statement of World Income
That clears it up. Thank you!
- Wed May 20, 2020 10:31 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Statement of World Income
- Replies: 5
- Views: 2261
Statement of World Income
I am filing an Emigrant return for 2019. The only income that I had after I left Canada was from the sale of my stocks in my Canadian brokerage account. Most were Canadian stocks and 1 TD Mutual Fund (held in USD currency). I have already put them on the deemed disposition forms as of date of depart...