Search found 13 matches
- Thu Oct 22, 2009 9:23 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Collapsing Ontario LIRA Account
- Replies: 6
- Views: 5916
- Thu Oct 22, 2009 8:33 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Collapsing Ontario LIRA Account
- Replies: 6
- Views: 5916
- Wed Oct 21, 2009 10:36 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Collapsing Ontario LIRA Account
- Replies: 6
- Views: 5916
Collapsing Ontario LIRA Account
I have a LIRA that was created two years ago from a company pension plan. And I am planning to unlock and collapse the account. From what I read on Form 5, for non-resident of Canda I can only do a Full Withdrawal. My questions are:
- What is the tax consequences on the full withdrwal, is the tax ...
- What is the tax consequences on the full withdrwal, is the tax ...
- Sun Apr 05, 2009 8:03 am
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP Withdrawal and Foreign Tax Deduction
- Replies: 6
- Views: 5094
you're right that AMT did click in after I added the FTD in schedule A, turbotax did that for me automatically. I read it somewhere else that I can deduct foreign tax refunds in AMT, which would be considered income under the regular tax rules. does it mean I have to first include it as a foreign ...
- Sun Apr 05, 2009 6:14 am
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP Withdrawal and Foreign Tax Deduction
- Replies: 6
- Views: 5094
thanks nelson.
I am confused after reading IRS Pub 514 for 2008, at the beginning of the introduction
"If you paid or accrued foreign taxes to a foreign country on foreign source income and are subject to U.S. tax on the same income, you may be able to take either a credit or an itemized deduction ...
I am confused after reading IRS Pub 514 for 2008, at the beginning of the introduction
"If you paid or accrued foreign taxes to a foreign country on foreign source income and are subject to U.S. tax on the same income, you may be able to take either a credit or an itemized deduction ...
- Sun Apr 05, 2009 5:12 am
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP Withdrawal and Foreign Tax Deduction
- Replies: 6
- Views: 5094
- Sat Apr 04, 2009 9:07 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP Withdrawal and Foreign Tax Deduction
- Replies: 6
- Views: 5094
RRSP Withdrawal and Foreign Tax Deduction
I am a Candian Citizen with U.S. GC. I took out part of my losing RRSP portofolio in 2008, TDW withheld 25% of that - 5k. I used the money to pay the Canadian tax in 2008 due to reassessment of past years. After reading here the posts on RRSP and FTC, here is what I think the better way to file my U ...
- Sun Apr 13, 2008 4:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 2555/1116/8891 for Canadian Citizen moved to U.S. on GC
- Replies: 8
- Views: 6235
One more question on my stock sell in ESPP, if I report the capital gain to CRA and also had some net captial loss from previous years to offset the gain in Canadian return. Can I still claim a foreign tax credit (which I suppose have to pay if I don't have the previous capital losson) on form 1116 ...
- Tue Apr 08, 2008 8:17 am
- Forum: Canada / United States Tax & Accounting
- Topic: 2555/1116/8891 for Canadian Citizen moved to U.S. on GC
- Replies: 8
- Views: 6235
- Mon Apr 07, 2008 4:08 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 2555/1116/8891 for Canadian Citizen moved to U.S. on GC
- Replies: 8
- Views: 6235
- Mon Apr 07, 2008 1:02 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 2555/1116/8891 for Canadian Citizen moved to U.S. on GC
- Replies: 8
- Views: 6235
- Sun Apr 06, 2008 8:21 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 2555/1116/8891 for Canadian Citizen moved to U.S. on GC
- Replies: 8
- Views: 6235
nelsona, thanks a lot for the reply. After reading more, I did find answers to my questions 2) and 3) from previous posts. However I am still confused on question 1) in terms of reporting on my ESPP selling, for I was given a 1099B and 1042S while I sold my U.S. company stocks as a Canadian resident ...
- Sun Apr 06, 2008 2:41 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 2555/1116/8891 for Canadian Citizen moved to U.S. on GC
- Replies: 8
- Views: 6235
2555/1116/8891 for Canadian Citizen moved to U.S. on GC
Great forum for Cross border tax issues and I can only wish I came to the forum earlier.
Here are my tax situation: (Sorry for the long post.)
I am a Canadian Citizen, got my green card June 2007 and moved the family down to states at the end of July. Broke all ties in Canada before the final move ...
Here are my tax situation: (Sorry for the long post.)
I am a Canadian Citizen, got my green card June 2007 and moved the family down to states at the end of July. Broke all ties in Canada before the final move ...