Search found 272 matches

by eortlund
Wed Mar 29, 2017 10:02 am
Forum: Canada / United States Tax & Accounting
Topic: Do I need to include form 8891 with US tax return
Replies: 3
Views: 1017

Thanks for the answer, I promise there is no '8891 question' conspiracy.
by eortlund
Wed Mar 29, 2017 9:54 am
Forum: Canada / United States Tax & Accounting
Topic: Do I need to include form 8891 with US tax return
Replies: 3
Views: 1017

Do I need to include form 8891 with US tax return

I know it's no longer used to report RRSPs and defer taxation.

But since we collapsed them this year and are reporting that to IRS, do we include 8891s?

I can still see it on the IRS website and print it off, but Turbotax didn't generate them for us, despite our input about RRSP distributions.
by eortlund
Wed Mar 15, 2017 2:56 pm
Forum: Canada / United States Tax & Accounting
Topic: Reporting RRSP withdrawal to the IRS
Replies: 5
Views: 729

OK, I can see I had it backwards. Found this old thread, viewtopic.php?p=35482&highlight=#35482 so will follow that if nothing has changed since 2014.
by eortlund
Wed Mar 15, 2017 2:38 pm
Forum: Canada / United States Tax & Accounting
Topic: Reporting RRSP withdrawal to the IRS
Replies: 5
Views: 729

Two posts up, you said spousal was 100% in your first line. ? I fiddled with the numbers and it doesn't really change my refund if I input a lower number for my taxable portion of my RRSP withdrawal. It still limits me to the $2000 I get for my 2 kids, and it seems the Canadian tax as covered whatev...
by eortlund
Wed Mar 15, 2017 2:25 pm
Forum: Canada / United States Tax & Accounting
Topic: Reporting RRSP withdrawal to the IRS
Replies: 5
Views: 729

Yes you have explained it, which is why I knew what values to input for him. Just wasn't sure about my spousal RRSP, but will put down 100% as taxable.
by eortlund
Tue Mar 14, 2017 12:22 pm
Forum: Canada / United States Tax & Accounting
Topic: Reporting RRSP withdrawal to the IRS
Replies: 5
Views: 729

Reporting RRSP withdrawal to the IRS

Working on US taxes now, and the software is asking me what portion of the RRSP withdrawal is taxable.

My understanding is that for my husband's employer-sponsored RRSP, it's only the growth that is taxable.

For my spousal RRSP, all of it is taxable?
by eortlund
Mon Mar 06, 2017 8:14 am
Forum: Canada / United States Tax & Accounting
Topic: Departure return and section 217
Replies: 14
Views: 1689

OK, would you suggest I tick the box Employment Income even though it is not?
by eortlund
Mon Mar 06, 2017 6:45 am
Forum: Canada / United States Tax & Accounting
Topic: Departure return and section 217
Replies: 14
Views: 1689

So I am reviewing what I entered into Ufile. On the Emigrant page, there's this bit: 'If the Canadian-source income you are reporting for the part of the year you were not a resident of Canada is at least 90% of your net world income for that part of the year (or if you had no income from sources in...
by eortlund
Thu Mar 02, 2017 12:01 pm
Forum: Canada / United States Tax & Accounting
Topic: Departure return and section 217
Replies: 14
Views: 1689

$1300 more with the RRSP tax refund
by eortlund
Thu Mar 02, 2017 11:44 am
Forum: Canada / United States Tax & Accounting
Topic: Departure return and section 217
Replies: 14
Views: 1689

Not a bad idea. I think our refund is still larger with the RRSP tax refund, but it woud be good to make sure.
by eortlund
Thu Mar 02, 2017 10:39 am
Forum: Canada / United States Tax & Accounting
Topic: Departure return and section 217
Replies: 14
Views: 1689

I believe we did discuss it, but your opinion was that I knew I wouldn't be working in 2016-2017 once nonresident, but my work future was unclear after that, so best do it now.
by eortlund
Thu Mar 02, 2017 9:54 am
Forum: Canada / United States Tax & Accounting
Topic: Departure return and section 217
Replies: 14
Views: 1689

So I've done this with ufile now. While I am getting a refund of the RRSP tax, our whole refund as a family is not as much as I thought it would be. Since I reported the RRSP withdrawal as my income, it looks like we lost much of the refund my husband would have gotten, probably because our total fa...
by eortlund
Thu Jan 12, 2017 11:54 am
Forum: Canada / United States Tax & Accounting
Topic: Departure return and section 217
Replies: 14
Views: 1689

Already done last week. As you advised. :)
by eortlund
Thu Jan 12, 2017 3:26 am
Forum: Canada / United States Tax & Accounting
Topic: Departure return and section 217
Replies: 14
Views: 1689

Thanks! I will give it a go with Ufile and come back with any questions. Yes we talked quite a bit about converting to a RRIF because of the advantages you mentioned with the UK-Canada treaty. However for simplicity's sake and my husband's age (40), we just decided to collapse everything and put all...
by eortlund
Wed Jan 11, 2017 6:02 pm
Forum: Canada / United States Tax & Accounting
Topic: Departure return and section 217
Replies: 14
Views: 1689

Departure return and section 217

So I'm getting ready to complete our departure returns. We left Canada last summer and now live in the UK. As advised here, we collapsed all of my husband's RRSP after we left, and half of my spousal RRSP. He works full-time, I worked very part-time in Canada and not at all here. So I'm hoping to re...