Serbinski Accounting Firms

Hi everyone I own a TD WAterhouse self-directed RSP, and after I changed residency, I received a W-9 form to complete. The TDW RRSP is staying in Canada and I cannot hold any non-registered amounts in the account. They also changed the account number saying that it would help them prepare year-end t...

Phew, glad it was for you too. :)

The advisor apologized for using the wrong term "TD Waterhouse USA", which, he was not aware is now "TD Ameritrade".

Answer to my question: The RSP remains with TD Waterhouse Canada; and does not move to the US. Let's just say, there was an uninformed advisor providing misguided information.

Hi nelson,

When a Canadian resident changes residency on an RSP with TD Waterhouse Canada, does the RSP get transferred to TD Waterhouse USA? Wouldn't that make it a US product with IRS issues? My impression is that the RSP has to remain with TD Waterhouse Canada.

Thanks.

[quote="nelsona"]TD forms are separate, and should not even be sent with your forms, they go to Detroit in all cases. If you have signing authority over the pension accoun (.ie it is your account), then you need to include it. If you have no authority over the account (or if it isn't even ...

Hi flames I totally agree that Revenue Canada was great to get tax returns done, etc. I had an account with them that I checked annually to see my RRSP and Home Buyers Plan information. I kept all the Notice of Assessments, and MOST OF ALL, I loved the fact that one tax return went directly to Ottaw...

Hi nelson, thank you again. I have been reading our state IRS guide, and I read, with cautious glee, that unemployment compensation is "tax exempt", so I will take that to mean from any source (foreign or local). Turbo Tax charges an extra $30 to complete the state return and our state off...

One more question: Should I add the foreign income, interest, etc. on the same places in our state 1040 form as well?

Thanks nelson. One more question: where do I enter maternity benefits on the 1040? I have a small amount to add. I remember the IRS lady told me to add it to Line 21, because it seems she had no idea where to add it.

This forum is very helpful. Many thanks

Believe me, nelson, I ain't gonna call the IRS people again as I don't understand why I don't the same information. That's why I am checking and asking questions at this forum. The questions I had asked BEFORE finding this website was where do I record my Canadian foreign income on the 1040. One lad...

Re the limitations of 1116: I agree, there are too many "hair pulling" frustrations with the 1116. I've called the IRS on help with the Deductions on Part I, and everytime, I get a diffrent response. Sigh! These days I have plenty of time to test the many tax software packages out there. I...

Thanks nelsona I do prefer using the tax software. It seems my (naive) calculations of the complicated Foreign Tax Credit (1116) has generated a different (more favourable) credit than what TurboTax has calculated. Further, I checked 2 other IRS efile software, which support 1116, and each gave me d...

Hi again I am tackling TurboTax for the first time in the US. I have used QuickTax; UFile, etc. and Netfiled all my previous Canadian tax returns. TurboTax seems to maximize deductions and came up with, for example, an extra deduction, a general sales tax amount, when I itemized deductions. I looked...

Hi again I have a LIRA that was created several years ago from a transferred pension. I also have an RSP with this company. When I discussed relocating to the US with them, the advisor said that my LIRA could not collapsed, as it was over the minimum $ threshold. That was fine with me, as I had no i...

Hi nelson I have been reading about all the extra paperwork Canadians are required to complete for the 1040, so yes, I do know about the form to submit to Detroit and the RSP forms. For efiling, I am going to tackle TurboTax, and hopefully they will calculate my foreign tax credit. I haven't checked...