Serbinski Accounting Firms

Hi all, a simple question I think, but one I have not found an answer to (maybe that alone answers my question): If I bought shares of XYZ Corp. on multiple occasions (e.g. some in 2019, some in 2020, some in 2021 and some in 2022), but sold the entire holdings on one occasion in 2022, do I report i...

Typo "I am thinking"...

RRSPs are, I believe, an "other foreign asset" as opposed to a deposit or custodial account... I can't recall if the sourcing for this conclusion was in this forum, but "other foreign asset" is what I report... The boxes to check are complex as applied to RRSPs... Dig around here...

A tardy thank you here, yes, odd result but yes best defense is play by the rules...!

A quick inquiry, nothing I could find guidance on... In the case of 2021, the maximum US dollar amount of US stocks held in a Canadian non-registered securities account occurred as of the year end statement, and the year end exchange rate was duly applied (Per T1135 instructions) to calculated the Y...

Hi all, in the interest of being diversified (although I suppose additional purchases of a foreign equity index fund would have been better perhaps, but that is an issue for another forum), I have some French stocks (acquired last year) and the withholding far exceeded the treaty rates (whether US/F...

Thank you nelsona, I very much appreciate the response/information, and its clarity!

Howdy, by "falling short" I meant that the FTC on passive income to which I am entitled per my 1116, and even the FTC on re-sourced income (as calculated through software) is never a full dollar-for-dollar credit (that is, fully equal to the Canadian taxes allocated to that income), with s...

Welcome (belatedly) to Canadian citizenship...!

My two cents, it appears you are intending to ask a question or two but it (they) are not readily apparent from your posting, in the hope of yielding responses you may want to re-phrase in the form of specific inquiries...

All the best!

Hi all, I understand that for purposes of FTC and Form 1116 Cap Gains on stocks are Canadian Sourced and relief from double taxation (although not complete by my experience) for USC filers is by way of use of Form 1116... The question, however, is this: Stocks were sold in 2021(first ever dispositio...

Thank you, very interesting, the characterization of a TFSA, an account owned solely by me with no third party care-taking/custodial-type trustee involved (e.g. overseeing the contents of the account for my benefit) as a trust does seem incongruous, hopefully there will be a Rev. Proc. on point befo...

Per the IRS site (https://www.irs.gov/individuals/taxpayer-identity-verification-information#formataddress): If you have an international mailing address, the only IRS.gov tool for which you can register is the Online Payment Agreement and you must request an activation code by postal mail. Generall...

Good afternoon nelsona, Your response piqued my interest as a dual citizen filer, who has kept away from a TFSA given the common theme of reporting on this issue, i.e., that US citizens should stay away from these given the onerous reporting and lack of deferral of income. Assuming for the moment th...

Thank you, I appreciate the FYI...!

This may be particularly esoteric, but perhaps someone has had experience on this issue... Dual citizen for whom a TFSA is not a practical option for retirement savings/planning, interesting in maximizing RRSP contribution room to the extent allowable. Due to participation in a foreign DPSP, a presc...