Serbinski Accounting Firms

Sorry, Nelson, but just to be clear: you mean correct as in, it is correct that 15% should NOT be withheld for these capital gains distributions?

I am US resident still holding mutual funds in a Canadian brokerage account, and I'm a non-resident in Canada for tax purposes. The brokerage has been withholding 15% on the monthly dividends (as they should).

However, at the end of the year, the funds distribute a "Capital gains distribution ...

Thanks, Nelson!

One quick follow-up question: I am going through previous years' statements, and I think previous years are off too. If I remit tax to the CRA now for 2013 (for example), can/how do I get a credit for my US taxes, which I already paid to the IRS? (Since I just go by the tax forms ...

I am a U.S. resident, with a Canadian investment account holding some Canadian mutual funds. The broker knows I'm a U.S. resident. I had expected that the broker would withhold 15% of the mutual fund dividends. However, they didn't; they said that because these are Canadian mutual funds, and ...

Thanks, Nelson.

About your second point... I did report a deemed sale when I left Canada. You said I have the "option" of using this value as my cost. I assume this means I don't have to? (since this value is lower than the original price at which I bought...)

Also, from your first point, I assume ...

I am holding some US equities in a Canadian investment account. When I bought them several years ago, the trades were settled in Cdn dollars. Now, I am considering selling them.

One of the stocks I own has appreciated in US dollar amount, but since the Cdn dollar has also appreciated significantly ...

In 2004, I was in F-1 for 9 months, and then switched to TN for the remaining 3 months. Under the rules, I excluded days spent in F-1 for the substantial presence test, and so I thought I was a nonresident alien. But now I read about dual-status, and so I am confused. Was I really nonresident for ...

Pardon the apparent stupidity of this question, but I have been reading opposite things in different places. When deducting your state/local taxes in the itemized deductions, are the taxes for the current tax year or for the past year. e.g. when filing this year, should I include the state taxes ...

I was a US non-resident last year, so I filed 1040NR, and I did not have to report my interest income from US/Canada. But does anyone know the rules for California state return? I reported my US interest income but I am now wondering if I need to report my Canadian interest income too. Thanks!

I just filed an 1040A, but I am wondering if I should really file a 1040NR.

- Jan - Sep 2004: I was in F-1 status, thus an "exempt" individual
- Oct - Dec 2004: I changed status to TN

Before 2004, I was in the US in F-1 for 1 year only.

I am now thinking that I can file a 1040NR. If so, do I have ...