Search found 7 matches

by NKy586
Sun Apr 30, 2017 1:03 pm
Forum: Canada / United States Tax & Accounting
Topic: Disposition of an RRIF upon Death
Replies: 2
Views: 1789

Disposition of an RRIF upon Death

I am a Canadian citizen living in the US with a US citizen wife. I own an RRIF in Canada that was transferred from an RRSP a few years ago. I entered the US in 1993 and the RRSP was open at that time. Based on the valuable advice on this website, I've been taking 10% out of the RRIF every year, payi...
by NKy586
Thu Aug 18, 2016 2:06 pm
Forum: Canada / United States Tax & Accounting
Topic: RRIF Withdrawals Complicated by Exchange Rate Fluctuations
Replies: 2
Views: 1976

Thanks for the help.
by NKy586
Wed Aug 10, 2016 3:44 pm
Forum: Canada / United States Tax & Accounting
Topic: RRIF Withdrawals Complicated by Exchange Rate Fluctuations
Replies: 2
Views: 1976

RRIF Withdrawals Complicated by Exchange Rate Fluctuations

I’m looking for advice on how to report an RRIF withdrawal on my US return in a situation where there has been significant currency fluctuation. Assume that I have filed the appropriate tax forms each year to defer the gains in the RRIF. Hypothetical example: Let’s say I emigrated from Canada to...
by NKy586
Fri Jan 07, 2005 4:05 pm
Forum: Canada / United States Tax & Accounting
Topic: Please read/post about RRSP in US Here!!!
Replies: 59
Views: 54765

Here's another turn I have to deal with ... my ex-wife does not want to cooperate in signing the bottom of the 1040X forms for the years prior to our divorce. Even if she did, she has changed her name since then so that her current legal signature would be different than the one on the original retu...
by NKy586
Fri Dec 10, 2004 6:07 pm
Forum: Canada / United States Tax & Accounting
Topic: Please read/post about RRSP in US Here!!!
Replies: 59
Views: 54765

Sorry, I didn't state it very well in my last post. What I meant was when I withdraw from MY account to give her the split, I'm going to first withdraw the income earned during my US residency before withdrawing from the original contributions. eg. Balance when entering the US was $50K. Balance at t...
by NKy586
Fri Dec 10, 2004 12:12 pm
Forum: Canada / United States Tax & Accounting
Topic: Please read/post about RRSP in US Here!!!
Replies: 59
Views: 54765

Thanks Nelson for the info. I do know about the post-US arrival reporting of gains and I was wondering if I could "assign" all of the gains to my ex as her share of the account. It sounds like I can. But Form 8833 is a nightmare. I'm not at all sure what this form is telling them. Am I goi...
by NKy586
Thu Dec 09, 2004 5:51 pm
Forum: Canada / United States Tax & Accounting
Topic: Please read/post about RRSP in US Here!!!
Replies: 59
Views: 54765

I have just found out through this forum about the RP 2002-23 requirement and that I need to file a 1040-X for past years. I'm in the process of writing up the letter attachment. One question: in one of my years, the balance drops by about 60%, partly due to a bad market year, but mostly because I w...