Thanks for the reply.
No, I never saw anything being held back before.
I called, but couldn't get a straight answer from them. They said this was their understanding of the treaty.
UGH!
He couldn't even tell me if I would be able to claim a foreign tax credit.
Search found 42 matches
- Tue Oct 01, 2024 4:08 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Foreign Tax witheld on Cdn stock in an IRA
- Replies: 3
- Views: 531
- Tue Oct 01, 2024 4:08 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Foreign Tax witheld on Cdn stock in an IRA
- Replies: 3
- Views: 531
Re: Foreign Tax witheld on Cdn stock in an IRA
Thanks for the reply.
No, I never saw anything being held back before.
I called, but couldn't get a straight answer from them. They said this was their understanding of the treaty.
UGH!
He couldn't even tell me if I would be able to claim a foreign tax credit.
No, I never saw anything being held back before.
I called, but couldn't get a straight answer from them. They said this was their understanding of the treaty.
UGH!
He couldn't even tell me if I would be able to claim a foreign tax credit.
- Thu Sep 26, 2024 3:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Foreign Tax witheld on Cdn stock in an IRA
- Replies: 3
- Views: 531
Foreign Tax witheld on Cdn stock in an IRA
I recently moved my IRA, from one firm to another. I am unble to get a satisfactory answer as to why; I have a foreign tax payment on my Canadian stock's dividend, Approx. 1/3 of the dividend value. I was under the assumption that Canada doesn't tax dividends on Canadian stocks held in IRAs. I'm a C...
- Sat Feb 24, 2024 8:38 am
- Forum: Canada / United States Tax & Accounting
- Topic: IRA distributions and tax witholding
- Replies: 1
- Views: 450
IRA distributions and tax witholding
Could you please clarify something for me?
When I make a withdrawal on my IRA, and they withold 15% for taxes: is the entire amount considered my withdrawal?
If not, how do I enter that on my Canadian form?
Thank you!
When I make a withdrawal on my IRA, and they withold 15% for taxes: is the entire amount considered my withdrawal?
If not, how do I enter that on my Canadian form?
Thank you!
- Fri Jul 14, 2023 5:21 am
- Forum: Canada / United States Tax & Accounting
- Topic: IRA withdrawal
- Replies: 8
- Views: 3046
IRA withdrawal
I am a Canadian resident with an IRA.
I'm looking at withdrawing from my IRA. I have no other income.
Is the withholding tax the only tax I will be paying?
Thank you.
I'm looking at withdrawing from my IRA. I have no other income.
Is the withholding tax the only tax I will be paying?
Thank you.
- Thu May 19, 2022 3:45 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 8840
- Replies: 2
- Views: 2956
Form 8840
Line 25-C.
I have in past years, filed a 1040NR, but I no longer receive income from the USA, nor do I file.
So my question is, do I say yes?
Or, is it no, because not in this year?
Thank so much.
I have in past years, filed a 1040NR, but I no longer receive income from the USA, nor do I file.
So my question is, do I say yes?
Or, is it no, because not in this year?
Thank so much.
- Sun May 01, 2022 11:11 am
- Forum: Canada / United States Tax & Accounting
- Topic: CC form 8840 line 29
- Replies: 1
- Views: 1049
CC form 8840 line 29
I need clarification on line 29, the instructions are not clear.
I live in Canada, but, I have an IRA in the US, which I have never taken funds from, yet.
I am living off my RRSP in Canada.
Do I report both?
Or only once I start withdrawals?
Thank you.
I live in Canada, but, I have an IRA in the US, which I have never taken funds from, yet.
I am living off my RRSP in Canada.
Do I report both?
Or only once I start withdrawals?
Thank you.
- Mon May 04, 2020 3:56 pm
- Forum: Canada / United States Tax & Accounting
- Topic: schedule K1 and ira
- Replies: 0
- Views: 12558
schedule K1 and ira
I hold a MLP in my IRA, and they sent me a schedule K1. I only made about $40 in dividends. Do I need to file this? This is confusing...I thought I read I didn't need to unless I made $1000.00 in a year. Thank you.
- Fri Dec 27, 2019 1:38 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRA withdrawal
- Replies: 7
- Views: 5210
Re: IRA withdrawal
Thank you, Nelsona.
Once I have withdrawn money from my IRA, filed my 1040nr, hopefully re-cooped some of the 15% paid...
Now do I file a Canadian return? Or am I done?
Regards.
Once I have withdrawn money from my IRA, filed my 1040nr, hopefully re-cooped some of the 15% paid...
Now do I file a Canadian return? Or am I done?
Regards.
- Tue Jun 11, 2019 7:06 am
- Forum: Canada / United States Tax & Accounting
- Topic: IRA withdrawal
- Replies: 7
- Views: 5210
IRA withdrawal
I am a Canadian, living in Canada, with a US IRA. Assuming my income is less than the basic personal exemption in Canada. If I withdraw $10,000.00 from my US IRA, and the with holding tax has been collected. In reality, will I get to claim that tax money back from the Canadian gov't through the trea...
- Tue Mar 12, 2019 12:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Schedule K-1 supplement
- Replies: 1
- Views: 1634
Re: Schedule K-1 supplement
Need to add...
I live in Canada, and file only a Federal return., no state income tax to report.
I live in Canada, and file only a Federal return., no state income tax to report.
- Tue Mar 12, 2019 12:06 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Schedule K-1 supplement
- Replies: 1
- Views: 1634
Schedule K-1 supplement
I am a Canadian, with an IRA.
Bought a stock which falls under this "partner's share" income partnership!
I made no money, I lost money on the trade, I do not want to claim the deduction. It is a small loss.
Do I need to file the paperwork for it?
Thank you.
Bought a stock which falls under this "partner's share" income partnership!
I made no money, I lost money on the trade, I do not want to claim the deduction. It is a small loss.
Do I need to file the paperwork for it?
Thank you.
- Sun Mar 10, 2019 5:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRAs for non resident citizens
- Replies: 41
- Views: 22815
Re: IRAs for non resident citizens
Hmmm, both RBC Wealth Management in the usa, and TD Ameritrade, take on Canadians with ira's.
- Thu Dec 27, 2018 9:23 am
- Forum: Canada / United States Tax & Accounting
- Topic: form 8854 and Abandonment of PR
- Replies: 2
- Views: 2054
Re: form 8854 and Abandonment of PR
Yes, I do file the NR form.
Thank you, for your help.
So very frustrating, when you never are told the whole story, of what you need to do! Cause I did ask, am I done now? lol
Thank you, for your help.
So very frustrating, when you never are told the whole story, of what you need to do! Cause I did ask, am I done now? lol
- Sat Dec 22, 2018 11:25 am
- Forum: Canada / United States Tax & Accounting
- Topic: form 8854 and Abandonment of PR
- Replies: 2
- Views: 2054
form 8854 and Abandonment of PR
I abandoned my PR card in 2014. I file a US tax return every year, because I receive alimony from the US..but I pay my taxes as per the treaty to the Canadian gov't. I have not received anything from Homeland saying they have accepted my abandonment. After searching for some answers, I found this fo...