Search found 62 matches

by MIKE2000Z28
Sat Dec 16, 2023 2:42 pm
Forum: Canada / United States Tax & Accounting
Topic: Us citizen selling selling their home with CDN spouse
Replies: 12
Views: 65042

Us citizen selling selling their home with CDN spouse

I know there is a 250k usd exemption, the question is do I divide the capital gain by 50 percent since I own half the house? So I make 300k, do you report 150k?

Thanks,
by MIKE2000Z28
Mon Sep 25, 2023 2:59 am
Forum: Canada / United States Tax & Accounting
Topic: RRSP/TFSA/RESP related filing requiremnts for Canadian citizens in USA
Replies: 18
Views: 4840

Re: RRSP/TFSA/RESP related filing requiremnts for Canadian citizens in USA

So we are leaning that the TFSA is not a foreign trust anymore? I know it was a firm yes up to a couple years ago when some professionals stated that it was not and don't consider it as such. Are professionals receiving less pushback from the irs regarding that account in not filing the 3520 forms?
by MIKE2000Z28
Sun Jun 05, 2022 2:23 pm
Forum: Canada / United States Tax & Accounting
Topic: Efile issue with Taxact
Replies: 5
Views: 3558

Efile issue with Taxact

I efiled for the first time last year with Taxact. I got the 600 dollar stimulus refund. Fast forward to this year and everything is filled out the same etc except for the refund and now it won't take my efile due to this error. This return does not qualify for e-filing. To qualify for e-filing, you...
by MIKE2000Z28
Tue Jun 01, 2021 2:50 pm
Forum: Canada / United States Tax & Accounting
Topic: Anyone register for an IRS account with your Canadian address?
Replies: 6
Views: 2832

Re: Anyone register for an IRS account with your Canadian address?

Well I filed my taxes electronically for the first time with Taxact. Return was accepted and I could check on my refund which they said was mailed out on April 28th. After that date if I go to check the status it says information does not match. It is one month later with no refund check and no way ...
by MIKE2000Z28
Mon May 31, 2021 7:05 pm
Forum: Canada / United States Tax & Accounting
Topic: Anyone register for an IRS account with your Canadian address?
Replies: 6
Views: 2832

Re: Anyone register for an IRS account with your Canadian address?

An online account? It is telling me since my address is foreign I cannot register for an online account to see my file.
by MIKE2000Z28
Fri May 28, 2021 11:27 am
Forum: Canada / United States Tax & Accounting
Topic: Anyone register for an IRS account with your Canadian address?
Replies: 6
Views: 2832

Anyone register for an IRS account with your Canadian address?

Due to the issues of a lost refund. I figured I sign up for the account, but once I put my Canadian address it flagged me for being unable to register. Sheesh why even list other countries if you won't be able to create an account. This is frustrating beyond all means.
by MIKE2000Z28
Thu May 27, 2021 3:01 pm
Forum: Canada / United States Tax & Accounting
Topic: Anyone have the IRS refund tool else your refund status?
Replies: 1
Views: 1347

Anyone have the IRS refund tool else your refund status?

I filed my tax return electronically with Taxact in early April and it was accepted on April 13th with a 600 dollar refund. I tracked the refund until it said it was mailed out April 28th. It's been a month and when I use the irs2go app and website it tells me my information does not match please re...
by MIKE2000Z28
Thu Mar 11, 2021 12:59 pm
Forum: Canada / United States Tax & Accounting
Topic: What US banks don't require a US address?
Replies: 1
Views: 1268

What US banks don't require a US address?

I'm asking because I have been in Canada for years as a PR and I'm still using my bank with my parents address. Eventually, when they sell the house etc can I still keep my account even though my address is in Canada? Has any expats had any luck with a particular bank? I'm with citizens now. Can't s...
by MIKE2000Z28
Mon Jan 25, 2021 7:52 pm
Forum: Canada / United States Tax & Accounting
Topic: Any efile online tax return programs for Expats in Canada?
Replies: 1
Views: 1227

Any efile online tax return programs for Expats in Canada?

I hate filing paper taxes every year and then have to pay 40 bucks for registered mail. I tried using Taxact I think a few years ago but it had issues with my foreign address. I have a fairly simple return 1040 and a few schedules and form 2555. Has the tax software caught up? Can I file online with...
by MIKE2000Z28
Wed Jan 08, 2020 5:32 pm
Forum: Canada / United States Tax & Accounting
Topic: Resp for dual national child
Replies: 6
Views: 4161

Re: Resp for dual national child

Thanks Nelsona, i thought that was the case. I put my wife as a NRA on my 1040. I just file myself.
by MIKE2000Z28
Wed Jan 08, 2020 6:06 am
Forum: Canada / United States Tax & Accounting
Topic: Resp for dual national child
Replies: 6
Views: 4161

Resp for dual national child

I'm an American living in Canada married to a Canadian. We have one child who is going to be a dual national once I file the paperwork. Is it possible for my wifes grandmom to open up a Resp and contribute to it and my daughter would just report the income on a 1040 when she turns 18? She would prob...
by MIKE2000Z28
Wed May 27, 2015 6:58 pm
Forum: Canada / United States Tax & Accounting
Topic: Sasketchewan pension plan and IRS?
Replies: 2
Views: 2464

[quote="nelsona"]They fall under the treaty protection because the are arrangements "operated exclusively to prrovide pension, retirement, or employee benefits" I don't know of any reporting requirements for these other than the ones that are currently in force for RRSPs,, ie FAT...
by MIKE2000Z28
Tue May 26, 2015 7:58 am
Forum: Canada / United States Tax & Accounting
Topic: How do I know if a TFSA is a "Trust"?
Replies: 1
Views: 2127

Re: How do I know if a TFSA is a "Trust"?

[quote="MaxPwr905"]As a Dual US/CDN citizen I've always operated under the assumption that all TFSA's are "Trusts" as far as IRS was concerned -and not wanting to deal with 3520 reporting have avoided using one. Now I read that if a TFSA is not a 'trust' then at least for US tax ...
by MIKE2000Z28
Mon May 25, 2015 8:49 pm
Forum: Canada / United States Tax & Accounting
Topic: Changes coming to RRSP reporting
Replies: 25
Views: 24841

[quote="victoriaguy"]I had an accountant confide share a document with me wherein an IRS official admitted it would likely be difficult for an IRS agent to issue penalties for not filing 3520's for a TFSA as the IRS has not issued any guidance on that. I don't have it handy just now as I'm...