Search found 16 matches

by InSearchOf...
Thu Apr 04, 2019 10:59 pm
Forum: Canada / United States Tax & Accounting
Topic: Form 5471 & Rev. Proc. 92-70
Replies: 1
Views: 528

Re: Form 5471 & Rev. Proc. 92-70

Doing some more googling all references to a dormant foreign corporation points to IRS Rev. Proc. 92-70 are dated prior to the tax changes for 2018. Asking my question above a different way...Did the tax changes for 2018 change the definition of a dormant foreign corporation as noted in Rev. Proc. 9...
by InSearchOf...
Wed Apr 03, 2019 8:35 pm
Forum: Canada / United States Tax & Accounting
Topic: Form 5471 & Rev. Proc. 92-70
Replies: 1
Views: 528

Form 5471 & Rev. Proc. 92-70

Hey everyone, I'm reading up on the changes to Form 5471 to understand what I need to file. In the instructions it references Rev. Proc. 92-70 for further guidance but I can't find that on the IRS website. Specifically I'm looking for the definition of a dormant foreign corporation to determine if I...
by InSearchOf...
Tue Apr 16, 2013 8:49 pm
Forum: Canada / United States Tax & Accounting
Topic: Turbotax and 8891
Replies: 19
Views: 5573

In TT Step-by-Step, Federal Taxes tab, select Wages & Income, Retirement Plans and Social Security. Last line Canadian Registered Pension Income.
by InSearchOf...
Mon Apr 15, 2013 9:20 pm
Forum: Canada / United States Tax & Accounting
Topic: Turbotax and 8891
Replies: 19
Views: 5573

I used TurboTax Deluxe and the form was there. It wasn't finalized until Jan 3/13 so you may need to do and update to TurboTax to see it.
by InSearchOf...
Sun Apr 14, 2013 1:53 pm
Forum: Canada / United States Tax & Accounting
Topic: Spouse traveling - 1040 Signature
Replies: 1
Views: 829

Spouse traveling - 1040 Signature

My Spouse is out of town and we need to file a paper return because we need to submit a Form 5471.

Will the IRS accept a faxed or PDF signature page? If not, what are our options?
Can I e-file the return and just mail in form 5471?

Thanks.
by InSearchOf...
Sat Apr 13, 2013 9:27 pm
Forum: Canada / United States Tax & Accounting
Topic: 1116 Carry Over Credit
Replies: 2
Views: 1128

Thanks Nelsona
by InSearchOf...
Fri Apr 12, 2013 7:17 pm
Forum: Canada / United States Tax & Accounting
Topic: 1116 Carry Over Credit
Replies: 2
Views: 1128

1116 Carry Over Credit

I am now living in the US and in Canada I only have RRSPs and a normal savings account with no withholding in Canada. I'm reporting my interest income on my 2012 1040 so I am not filing a 2555. I don't have any foreign tax from 2012 to claim in my 1116 or 1116AMT. I have carryover amounts from 2011 ...
by InSearchOf...
Sun Mar 10, 2013 10:07 pm
Forum: Canada / United States Tax & Accounting
Topic: Turbotax version
Replies: 2
Views: 1102

Raysonet,

Yes, you are correct. I have RRSP & RSP in Canada and that's it.

I'll give TurboTax Deluxe a try.
by InSearchOf...
Sat Mar 09, 2013 7:56 pm
Forum: Canada / United States Tax & Accounting
Topic: Turbotax version
Replies: 2
Views: 1102

Turbotax version

Hello, I am a Canadian GC holder working and living in the US. I've had an accountant prepare my US returns in the past and we filed the following: - TD F 90-22.1 - 1040 - 1116 - 3520 - 6251 - 5471 - 8891 - 8938 I'm thinking of trying TurboTax this year as I filed my Canadian taxes using Quicktax fo...
by InSearchOf...
Thu Feb 02, 2012 7:59 pm
Forum: Canada / United States Tax & Accounting
Topic: Missing account and error in 2010 TD F 90-22.1
Replies: 3
Views: 1271

Thanks for the info everyone.
by InSearchOf...
Thu Feb 02, 2012 12:13 am
Forum: Canada / United States Tax & Accounting
Topic: Missing account and error in 2010 TD F 90-22.1
Replies: 3
Views: 1271

Missing account and error in 2010 TD F 90-22.1

In preparing for my 2011 return I realized that I missed reporting an account and that another has a typo in the account number. As as result I have the following questions: - Do I re-file for 2010 with the updated information or correct it for the 2011 filing? - Should I include a cover letter to e...
by InSearchOf...
Tue Jun 28, 2011 3:39 pm
Forum: Canada / United States Tax & Accounting
Topic: RPP Reporting on TDF 90-22.1 & 8891 submission timing
Replies: 6
Views: 4748

I'm filling the form in now. In the Exceptions section of the instructions it states: "Participants in and Beneficiaries of Tax-Qualified Retirement Plans. A participant in or beneficiary of a retirment plan described in Internal Revenue Code section 401(a), 403(a), or 403(b) is not required to repo...
by InSearchOf...
Tue Jun 28, 2011 1:17 pm
Forum: Canada / United States Tax & Accounting
Topic: RPP Reporting on TDF 90-22.1 & 8891 submission timing
Replies: 6
Views: 4748

Thanks for the great info!
by InSearchOf...
Tue Jun 28, 2011 8:36 am
Forum: Canada / United States Tax & Accounting
Topic: RPP Reporting on TDF 90-22.1 & 8891 submission timing
Replies: 6
Views: 4748

Thanks for the information and quick reply.

So fully vested RSP/RPP income/growth are subject to regular US income tax? Odd that RRSPs are exempt but not RPP/RSPs. Is there a different way to report the tax exemption if not on the 8891?

Just checking.

Thanks again.
by InSearchOf...
Tue Jun 28, 2011 7:02 am
Forum: Canada / United States Tax & Accounting
Topic: RPP Reporting on TDF 90-22.1 & 8891 submission timing
Replies: 6
Views: 4748

RPP Reporting on TDF 90-22.1 & 8891 submission timing

I am preparing to file my TDF 90.22.1 to disclose my Canadian holdings. I have three questions: - When I file my TDF 90.22.1 should I send in my 8891 RRSP disclosure at the same time or submit the 8891 when I send in my 1040? - When I fill in my 8891, does RPP qualify or is it RRSP only? - Since mos...