Search found 3 matches

by cappy2010
Fri Feb 19, 2010 4:45 pm
Forum: Canada / United States Tax & Accounting
Topic: ABIL vs. Capital
Replies: 0
Views: 3796

ABIL vs. Capital

I gather that an ABIL essentially covers investments in small business, whereas a capital gain is tied to larger businesses, arms-length securities and traded securities. My question is: is there no circumstance where investment into a small business (that goes bad) is a capital loss, aside from not...
by cappy2010
Fri Feb 19, 2010 10:38 am
Forum: Canada / United States Tax & Accounting
Topic: changing residency and capital loss carry forwards
Replies: 1
Views: 1983

changing residency and capital loss carry forwards

Does anyone know - if a capital loss is taken in Canada before changing tax residency to US, do you keep the loss when you cross over? Can you apply it in the US? Does it survive returning back to Canada after a stint as a US tax resident? Does it matter if it's ABIL vs. capital losses? Thanks every...
by cappy2010
Wed Feb 17, 2010 2:55 pm
Forum: Canada / United States Tax & Accounting
Topic: calculating RRSP contribution limit
Replies: 1
Views: 2016

calculating RRSP contribution limit

US green card holder, Canadian tax resident for 2009 and 2010, US prior to that, filing in both US and Canada going forward indefinitely. Is the 2009 RRSP contribution limit based only on income reported on a Canadian tax return for 2008 (or unused carryforwards from prior years based also on Canadi...