Serbinski Accounting Firms

I thought that I had to fill in the 1040X with all of the appropriate details (AGI, Deductions, etc.) with a delta of 0 - do I not have to do that?

I have my yearly balances of my RRSP. So I thought it would be easy just to type up a simple statement in compliance with 2003-23 with beginning of ...

I think I'm good now. Thanks for your help.

On the mechanics topic I did discover how easy it was to let Turbotax generate my 1040X's for me. I easily generated it for 2004. And tested it out for 2003 as well. I could easily go back all the way to 1997 if I wanted to.

Thanks again.

What actually goes on line 1 of Form 1116? Is it the entire withdrawl amount CDN$29K (converted of course) or is it only the taxable portion of CDN $15K (gains since residency)?

The line reads "Gross income..." without distinction. The instructions for Form 1116 for Line 1 read "Include income in ...

It is not a lump sum distribution, it is general limitation income.
Excellent - I think that makes it a little simpler. How would I have known that it was General Limiation Income? I assumed it fell under a Lump-Sum. The definitions in the instructions for Form 1116 aren't that clear and I did ...

In addition to the above revelation of a previously filed 89-45 I did run TurboTax last night using both the deduction and the credit. The deduction was pretty straightfoward as I already itemize anyway - the addition income came out to cost me another ~$1000. But the credit didn't go so well ...

After digging a bit, I found something interesting. My company paid for professional preparation for 1996 due to the dual-residency. I found that my tax return filed for 1996 did contain an election to defer pursuant to RP 89-45 . All subsequent years (that I prepared on my own) did not contain any ...

I finally got through the long thread about 8891's. Some godo nuggets in there.

The advice you offered in there (roughly a year ago) to a few folks was to file 02-23 statements (or 8891) for all missed tax years (up to 6 years). Since your advice to me is only to file 8891 for 04 & 05), have you ...

I don't know what I would do without your help and the information on this site. It has helped me tremendously.

No, file an 8891 for last year (sent in now) , and this year (sent a couple of weeks after e-file) , and move on.
The more I read up on this and begin to understand, the more I am ...

I chose 2002, since tha twas the year RP 2002-23 came out. If you wish to go back, or to use RP 89-45 for '96-2001 go ahead.
Do I just send in the statement to my local tax office, or do I need to also attach 1040X for each year? This may be more work than it's worth - hence your advice to just ...

Thanks for your response. I've been reading alot of the forums and your input is wonderful.

Yes I realize now that I should have been filing something to defer all along (slap myself). As you say, I'm trying to make it right now.

On the 8891 form for last year, what should I do with 6a/b/c? What ...

First, my situation. I have been in the US since the fall of 1996. When I moved down, I rolled my CDN employer RRSP account into a private RRSP account. It was funded at that time with about $14.5K CDN. I have never filed any paperwork in the US for this account. Come 2005 I cash in my RRSP account ...