Search found 8 matches

by tedmac
Sat Feb 20, 2021 5:46 pm
Forum: Canada / United States Tax & Accounting
Topic: IRS Reporting Question
Replies: 0
Views: 787

IRS Reporting Question

I am a dual citizen (US/Canada) living in Vancouver. Last year I bought a condo that is part of a coop. That means I own shares in the coop that give me the right to occupy my unit. The coop is listed as a limited partnership that owns the building where my condo is. Do I have to report this to the ...
by tedmac
Tue Feb 09, 2021 12:57 pm
Forum: Canada / United States Tax & Accounting
Topic: Form W-9
Replies: 3
Views: 348

Re: Form W-9

My Vanguard accounts are with Vanguard in the USA. I have moved in late 2020. I am living on my Vanguard brokerage accounts from the USA. Do I still have until April 15th to file a W-9 ?
by tedmac
Tue Feb 09, 2021 11:56 am
Forum: Canada / United States Tax & Accounting
Topic: Form W-9
Replies: 3
Views: 348

Form W-9

I am a Vanguard investor recently moved to Canada. I am also a dual citizen of United States and Canada. Do I need to file a W-9 with Vanguard ? I am pretty sure I will make my primary residence in Canada but I still have a place I rent in the United States which is my address of record. Would be in...
by tedmac
Sun Dec 20, 2020 1:59 pm
Forum: Canada / United States Tax & Accounting
Topic: RMDs from US based IRA
Replies: 6
Views: 1058

Re: RMDs from US based IRA

Thank you nelsona really useful information, I appreciate your time & expertise.
by tedmac
Sat Dec 19, 2020 8:30 pm
Forum: Canada / United States Tax & Accounting
Topic: RMDs from US based IRA
Replies: 6
Views: 1058

Re: RMDs from US based IRA

Another Question occurs to me after reviewing the previous replies. Is the limit on the foreign tax credit 15% of my US taxes on the RMD or 15% of my net foreign income ? After reading some of the CRA literature on this I am a bit confused. Thanks again.
by tedmac
Sat Dec 19, 2020 12:09 pm
Forum: Canada / United States Tax & Accounting
Topic: Dual Citizen Question
Replies: 1
Views: 585

Dual Citizen Question

I am a dual citizen of Canada and USA living in Vancouver and have always worked for US companies. I have recently retired. All of my financial assets are in the USA mostly within IRA accounts. If I decide to leave Canada to leave in the USA will I still owe taxes in Canada ? If I do, is there a lim...
by tedmac
Mon Dec 14, 2020 1:10 pm
Forum: Canada / United States Tax & Accounting
Topic: RMDs from US based IRA
Replies: 6
Views: 1058

Re: RMDs from US based IRA

Thanks for your reply. A couple of questions occur to me: - My wife has her own IRA and I assume that she will be able to report withdrawals from her IRA as separate income in Canada ? - All RMD withdrawals will be taxed twice as income, once in the US and once in Canada ? I am new to retirement as ...
by tedmac
Mon Dec 14, 2020 3:12 am
Forum: Canada / United States Tax & Accounting
Topic: RMDs from US based IRA
Replies: 6
Views: 1058

RMDs from US based IRA

I am a retired dual US/Canadian citizen making my home in Vancouver. My entire working life was in the USA with US based companies. I have most of my assets in US based IRA accounts. How will future RMDs from those accounts be taxed ? I do not intend to renounce my US citizenship. Thanks for your re...