Search found 14 matches
- Sun Oct 15, 2006 5:01 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 8891 and TD F 90-22.1
- Replies: 4
- Views: 4293
I take full responsibility for not doing these ahead of time...back at the beginning of the year. 2005 was my first year of tax filing in the U.S and I really did not expect so many forms will be needed. For the first time, in 2005, people got 6 month extension (versus 4 month as it had been). So Oc...
- Sat Oct 14, 2006 1:14 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 8891 and TD F 90-22.1
- Replies: 4
- Views: 4293
Form 3520...
Sorry..for posting three in a row...I am kind of desperate to finish my return. I forgot to mention - I received "Return of Capital" from a popular Canadian mutual fund company and the fund is classified as Income Trust Fund. I am not sure if it is same as a "Trust" as defined by...
- Sat Oct 14, 2006 1:09 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 8891 and TD F 90-22.1
- Replies: 4
- Views: 4293
Another bombshell...
I received "Return of Capital" of $900 Canadian which I am thinking is non-taxable and does not have to be reported. I am hoping to check "No" , on 1040 schedule B, Part III Foreign Accounts and Trusts - Line 8. If I check "Yes" then they are talking about 3520 form and...
- Sat Oct 14, 2006 1:02 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 8891 and TD F 90-22.1
- Replies: 4
- Views: 4293
Form 8891 and TD F 90-22.1
I am about to mail my 1040 for year 2005. I thought I was done with everything when I realized TWO things which I was completely unaware of. I am a Canadian citizen who moved to U.S in March 2005. For 2005, I am a Resident Alien 1. I hold RRSP accounts in Canada. I just found about 8891. At this tim...
- Sun Oct 08, 2006 7:44 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Help needed - Part year Canadian, Part year U.S
- Replies: 20
- Views: 12279
OK..I think I finally got it...but...
By asking so many questions, I hope I have not made you think "enough is enough" and not bother helping me... Your note that you are electing to have your spouse treated as a US resident will be sufficient. This is not a treaty position. 1. What do you mean by a note ? Does this note need ...
- Sun Oct 08, 2006 12:00 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Help needed - Part year Canadian, Part year U.S
- Replies: 20
- Views: 12279
8833 and treaty position
Nelsona, Regarding child tax credit.... A United States citizen who is in my situation is able to claim child tax credit. So based on XXV non-discrimination clause, a Canadian citizen should also be able to claim child tax credit. Correct?? It seems I need to take this treay position to clain child ...
- Sun Oct 08, 2006 11:41 am
- Forum: Canada / United States Tax & Accounting
- Topic: Help needed - Part year Canadian, Part year U.S
- Replies: 20
- Views: 12279
file 8833
Which articles in the treaty does one avail to file as U.S residents? The reason I ask is... In my case, I plan on claiming child tax credit for my two kids...the requirement for this is the child be " Was a U.S. citizen, a U.S. national, or a resident of the United States...". By taking T...
- Sun Oct 08, 2006 3:01 am
- Forum: Canada / United States Tax & Accounting
- Topic: Help needed - Part year Canadian, Part year U.S
- Replies: 20
- Views: 12279
Are you suggesting no 8833 required?
Nelsona, First of all I can not thank you enough for all the help. You said "...rely on non-discrimination if necessary". I guess you are referring to someone filing 8833 and using non-discrimination. Could you give an example when it is "necessary" for someone to do this? I am t...
- Sat Oct 07, 2006 1:10 am
- Forum: Canada / United States Tax & Accounting
- Topic: Help needed - Part year Canadian, Part year U.S
- Replies: 20
- Views: 12279
Even more confused...frustrated as well
As I begin to think after reading publication 519 page 10... My wife evn though she came to the USA on October 02, 2005, She did not live for 31 days in a row. This will make her non-resident alien. But she can make a choice to file as a residen alien because I am a resident alien. But what concerns...
- Fri Oct 06, 2006 8:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Help needed - Part year Canadian, Part year U.S
- Replies: 20
- Views: 12279
Consequence of missing June 30 date for 217 return
One more thing...
What did I miss by not meeting the June 30 date?
Using 1116, if I can get credit on 1040 for all the tax I paid CRA, then I am even right? Am I missing something here? Thanks.
What did I miss by not meeting the June 30 date?
Using 1116, if I can get credit on 1040 for all the tax I paid CRA, then I am even right? Am I missing something here? Thanks.
- Fri Oct 06, 2006 8:16 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Help needed - Part year Canadian, Part year U.S
- Replies: 20
- Views: 12279
Amended 1040 with 1116
Since we have not file Canadian taxes yet, I do not know how much tax credit to indicate on 1116. I plan on filing U.S taxes in the next few days. This will really stink because I would pay several thousand dollars to IRS upfront and hope to recover through 1116 down the road. Can I file 1116 along ...
- Fri Oct 06, 2006 3:09 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Help needed - Part year Canadian, Part year U.S
- Replies: 20
- Views: 12279
Thanks Nelson I forgot to mention an important detail. My wife was receiving maternity benefits from Canada even though she was living in a third country. So that income is from a Canadian source and also she did not pay tax on this to the third country. Can we use 2555 to exempt this on 1040? We al...
- Fri Oct 06, 2006 1:12 am
- Forum: Canada / United States Tax & Accounting
- Topic: Help needed - Part year Canadian, Part year U.S
- Replies: 20
- Views: 12279
More info...
Just to add some info, my wife and I worked and lived in Canada from May 01, 2000 to February 28, 2005. I am reading up on 2555. It seems as though I might be able to exclude my Canadian wages prior to U.S entry. However, my wife I am not sure. Since she lived in a third country from March 01, 2005 ...
- Thu Oct 05, 2006 10:37 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Help needed - Part year Canadian, Part year U.S
- Replies: 20
- Views: 12279
Help needed - Part year Canadian, Part year U.S
This is regarding taxes for year 2005. I have not filed Canadian or U.S taxes taxes yet. My wife and I lived and worked in Canada from Jan 01, 2005 to Feb 28, 2005. Then From March 01, 2005 till now I have lived and worked in the U.S. on a TN visa. My wife and two kids lived in a third country and j...