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,
Search found 62 matches
- 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: 99215
- 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: 5921
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?
- Sun Jun 05, 2022 2:23 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Efile issue with Taxact
- Replies: 5
- Views: 3832
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...
- 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: 3374
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 ...
- 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: 3374
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.
- 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: 3374
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.
- Thu May 27, 2021 3:05 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Anyone have the IRS refund tool else your refund status?
- Replies: 1
- Views: 1667
Re: Anyone have the IRS refund tool else your refund status?
It's meant to say Lose your status
- 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: 1667
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...
- 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: 1459
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...
- 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: 1409
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...
- Wed Jan 08, 2020 5:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Resp for dual national child
- Replies: 6
- Views: 4522
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.
- Wed Jan 08, 2020 6:06 am
- Forum: Canada / United States Tax & Accounting
- Topic: Resp for dual national child
- Replies: 6
- Views: 4522
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...
- Wed May 27, 2015 6:58 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Sasketchewan pension plan and IRS?
- Replies: 2
- Views: 2690
- 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: 2314
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 ...
- Mon May 25, 2015 8:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Changes coming to RRSP reporting
- Replies: 25
- Views: 25600