Serbinski Accounting Firms

I read numerous times on this forum about Canadians being able to file standard form 1040 even though not meeting the US SPT. I asked this question to IRS and they sent me a document to determine what form to use. Unfortunately all the document describes is how to determine SPT and nothing about ...

Thanks nelsona for a quick response.

Your response raises some further questions:

- is it now possible to file 1040 after having filed 1040NR for 2011?

- if I can file 1040 for 2011, would the tax rate be based on the standard tax table rate and not straight 30%?

- IRS calculated 30% tax on the ...

I am a Canadian currently living in Asia.

I worked in the US for 12 years and before leaving US I converted my IRA to Roth IRA in 2010. When I filed my 2010 tax return (1040), I filed form 8606 indicating that I would defer taxes on the conversion to 2011 and 2012. Also I converted a small (5K) IRA ...

nelsona,

Thanks for your prompt reply.

Regarding:

"Why would a non-US resident have a broker that issues a 1099-DIV? You aren't supposed to have a US brokerage."

It is a carry over from the time I used to be a US resident. I never closed it after I left the US. In fact I still have a US address ...

nelsona,

As always, thanks for your insightful replies.

The stocks I hold are not from a US company and I see that on form 1099-DIV there is an amount for foreign taxes paid. My guess is that I don't need to report the dividend income on 1040NR but would like to ask if my assumption is correct ...

That is good news about interest income.

Then what about things like OID and dividend from stocks? Would I have to report them as income on the 1040NR?

Peter

In the instruction for completing 1040NR, I came across the followiing:

Line 9a—Taxable interest. Report on line 9a all of your taxable interest income from assets effectively connected with a U.S. trade or business.

But further on I came across this paragraph:

Interest from a U.S. bank ...

Does the requirement to file 8891 and FBAR go away when filing 1040NR?

I am a Canadian who worked in the US for 12 years until I was laid off in Summer 2010. When I got laid off I converted my 401K to Roth IRA and deferred the taxes until 2011 and 2012. Since being laid off in 2010, I have been living in Asia and I have not worked (so no income). I need to file US tax ...

Thanks.

I am a Canadian citizen who worked in the US for the past 10 years on TN visa. I recently got laid off from the company in August 2010. Since being laid off I have not moved back to Canada but decided to retire in Malaysia. I plan to be in Malaysia at least for a year after which I may or may not ...

My work is virtual and I can work from pretty much any place. I have worked from US, Asia as well as Canada. I have spent about half time in Asia, about 40% in Canada and 10% in the US. For tax purposes would I be deemed a resident of Canada? I have no ties to Canada such as no DL, no bank accounts ...

nelsona,

Actually deliberately I didn't cite the source because I did not want to highlight the error in the website (in case it turned out to be true).

I guess from what you are saying the information in the website is outdated and hence not applicable under the current rules.

Thanks.

It is understanding that Roth IRA, if set up before becoming a resident of Canada, would not be taxable in Canada. Also, the tax free status would apply to any future growth within the Roth IRA. However, I saw couple of articles that cast doubt in my understanding ...

Thank you very much. Everything is clear now.