Serbinski Accounting Firms

Is RRSP distribution taxable on state tax return (NJ) ?

I am a US resident and I withdrew my RRSP in 2007. In 2006 I filed defferal (8891) to IRS. Now I have to file 1116 and I saw on this forum that RRSP withdrawal is "general limitation income". However from 1116 instructions I think it is a "lump sum". Can you point me to any offic...

In the beginning of March I submitted my canadian departure tax return by regular mail from USA to the international tax office in Ottawa. Till now I did not hear anything from them. "My account" on CCRA website says that 2006 tax return is not received yet. Does anybody know how long does...

Do I need to attach:

1) W-2 ?
2) 1099 ?
3) T4 (I submit 1116 for it) ?
4) T5 (I submit 1116 for it) ?
5) RRSP statement (I submit 8891 for it) ?

Thank you.

Thank you for the explanation. I figured out that in my case filing 1116 for "general limitation income" is a little bit better than FEIE with 2555. By the way, is tax paid or accrued in 1116 for T4 income ? And what is the date the tax paid or accrued ? Is it the same like in 1116 for pas...

I excluded my Canadian T4 income with the form 2555. I am using TaxAct software. Although this income is really excluded from my "adjusted gross income", the tax itself is calculated differently than if I did not have this T4 income at all. I checked the instructions and it looks like the ...

If I did not touch my RRSP (no contribution, no distributions) in 2006 , what should I answer in line 8 of part 3 of Schedule B ? What is "grantor" and "transferor" ?

Do I need to indicate somehow that I am applying the treaty and therefore do not include the declaration ?

Page 9 of Pub 519 says the declaration should be attached to the tax return.

We moved to US from Canada in 2006. We have Green Cards. We want to be treated as a full year residents. I have 2 questions: 1) Does anybody have the example of the declaration we have to attach to our tax return ? Any IRS form for it ? 2) What about state (NJ) tax return ? Are we also considered as...

Thank you, Nelson. I have more questions 1) What is the date taxes related to T5 accrued ? December 31, 2006 ? 2) I want to double check that I understood you example correctly: 11K - line 150 in T1 1K - line 121 in T1 Total tax - line 435 in T1 (includes both federal and provincial taxes) So my T5 ...

We moved to US from Canada in 2006. We want to make "full year residence" election in US tax return. I have the following questions about the form 1116: 1) For T5s income (i.e. before I moved to US), is the tax paid or accrued ? I counted this income in my Canadian tax return, i.e. I am go...

I moved from Canada to USA on March 19, 2006. Unfortunately I did not know that I have to report to the bank (savings account) that I am a non-resident of Canada anymore. So I received T5 form for the whole year instead of T5 + NR4. Is it mandatory to fix the issue ? I figured out that in case of NR...

Nelson, thank you for your quick and detailed reply. I have a translation of my birth certificate done by Ontario certified translator. However, the birth certificate itself is not "authenticated". I hope it is not necessary for IRS. I successfully got the US immigrant visa without authent...

I am in the same situation, i.e. I am a US PR holder and Canadian citizen. My parents are PRs in Canada and do not have their own income. I want to include my parents as dependents in 1040 form. I have the following questions: 1) Is Canadian PR card considered "National ID card" to apply f...