Thanks for all of your responses.
Because I was a US citizen, what does that mean from a capital loss standpoint?
If I contributed $70K, made $500 in "deferred-income" events (interest/dividends), but only have $50K in the account (due to loss in market value), then 16b would really be $-20K, but it ...
Search found 3 matches
- Wed Mar 01, 2006 9:15 am
- Forum: Canada / United States Tax & Accounting
- Topic: Selling RRSP at a Loss
- Replies: 10
- Views: 8318
- Tue Feb 28, 2006 4:50 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Selling RRSP at a Loss
- Replies: 10
- Views: 8318
Just to clarify:
Just be sure that the amounts you exclude on 16b vs. 16a is no more than your book value when you arrived.
I was always a US citizen so doesn't that mean it is based on the average (or adjusted) cost basis of each security?
(eg. if i bought security X at $10,000 in 1999, and sold ...
Just be sure that the amounts you exclude on 16b vs. 16a is no more than your book value when you arrived.
I was always a US citizen so doesn't that mean it is based on the average (or adjusted) cost basis of each security?
(eg. if i bought security X at $10,000 in 1999, and sold ...
- Tue Feb 28, 2006 11:22 am
- Forum: Canada / United States Tax & Accounting
- Topic: Selling RRSP at a Loss
- Replies: 10
- Views: 8318
Big Mess - Selling RRSP at a loss, forgot to defer each year
I have a similar problem. I'm a US citizen with an RRSP (I moved back to the US in 2001).
I didn't realize until now, but my tax guy filed Rev Proc 89-45 for me in 1999, 2001, and 2002. I since have not filed anything to register or defer my RRSP. I'm thinking of filing form 8891 for 2004 and 2005 ...
I didn't realize until now, but my tax guy filed Rev Proc 89-45 for me in 1999, 2001, and 2002. I since have not filed anything to register or defer my RRSP. I'm thinking of filing form 8891 for 2004 and 2005 ...