Serbinski Accounting Firms

Hi, I'm a Canadian working in the US on a TN visa and required to file both Form 8938 and FBAR. I have an RRSP Savings account (as well as an RRSP brokerage account) that were opened before I moved to the US and I've been reporting both accounts separately under Part VI "Other Foreign Asset&quo...

I'm so sorry Nelsona, I just realized i might have miscommunicated. Line 26 on my schedule E & Line 8 on 1040 is actually 0. The 2000 loss i was referring to is the difference between Line 3 (gross income) and Line 20 (total expenses) on Schedule E (as a result of depreciation) and will be carri...

Thank you Nelsona & sorry for the late reply! Could you please help me to better understand the reason for including rental losses in 1116? On my 1040 return, I'm not qualified to use losses from rental to offset other income such as interest. As such, if i include rental losses in 1116 (gross i...

Hi, I'm a Canadian working in the US on a TN visa. I have a rental property and bank accounts in Canada so both the rental income and bank interest will be reported on my 1040 return. - because of depreceiation, I will be reporting a net loss of 2,000 on Schedule E - on 216 return in Canada, I will ...