Search found 245 matches
- Sun Feb 04, 2018 5:12 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Algorithm for doing a 3520-3520A in 2nd year and beyond
- Replies: 28
- Views: 28300
- Sun Jan 28, 2018 8:46 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Software suggestions for 1040, form 2555 & possible 1116
- Replies: 18
- Views: 12990
- Sun Jan 28, 2018 1:29 am
- Forum: Canada / United States Tax & Accounting
- Topic: Software suggestions for 1040, form 2555 & possible 1116
- Replies: 18
- Views: 12990
- Sat Jan 27, 2018 8:24 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Software suggestions for 1040, form 2555 & possible 1116
- Replies: 18
- Views: 12990
- Sun Feb 19, 2017 7:53 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 3520-a and calculating exchange rate fluctuations
- Replies: 6
- Views: 3565
- Sat Feb 18, 2017 8:15 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 3520-a and calculating exchange rate fluctuations
- Replies: 6
- Views: 3565
- Sat Feb 18, 2017 6:05 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Basic, unusual TFSA/3520 question
- Replies: 2
- Views: 3836
Basic, unusual TFSA/3520 question
This is probably an easy one. I'm a USC living in Canada. I went to set up an RRSP at my Cdn bank. The agent set this up, and then "helpfully" also set up a TFSA for me, in case I might want one. Do I need to file a 3520 for it? It has no money in it, though I might want to use it in the f...
- Sun Nov 13, 2016 10:04 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting mutual funds held within a TFSA and RESP
- Replies: 1
- Views: 1594
- Thu Oct 06, 2016 1:00 am
- Forum: Canada / United States Tax & Accounting
- Topic: Taking stab at 3520, -A for TFSA
- Replies: 157
- Views: 221824
Hi AliM - I'll take a swing at this, though I will defer largely to Nelsona who has about 100x as many posts as I do, and probably about 100x the expertise too. The unfortunate answer about the TFSA and RESP is that the IRS has not provided solid, clear guidance one way or the other. As such, the co...
- Sun Apr 10, 2016 1:10 am
- Forum: Canada / United States Tax & Accounting
- Topic: F8621
- Replies: 3
- Views: 2592
I don't know much about the first part of your question (I'd guess it would not be a sale, but I don't know how you'd report it), but I can take a shot at the 2nd part. Yes, many funds would certainly appear to be a loss once the exchange rate is factored in. If you are going mark-to-market on 8621,...
- Fri Apr 08, 2016 12:39 am
- Forum: Canada / United States Tax & Accounting
- Topic: Where Does RESP Withdraw by Student go on his US 1040?
- Replies: 27
- Views: 29119
Great - thanks MGeorge for this! I wondered how this would work, with a faint hope that the whole thing will be resolved on its own by the IRS (ha) by 2018 when this situation occurs. (Yes, she's a USC too.) This sounds straightforward; I had heard rumblings of double taxation with it, but this soun...
- Fri Apr 08, 2016 12:29 am
- Forum: Canada / United States Tax & Accounting
- Topic: Should I apply for Canadian Citizenship?
- Replies: 9
- Views: 4793
Hi devoidbmx, this is a really personal decision, but I can share my experience. I'm also a USC who has lived in Canada for the past 10 years (and about 8 in a prior stint). I applied for Cdn citizenship and have been a citizen for about 4 years. As far as I can tell, there haven't been any tax impl...
- Wed Apr 06, 2016 7:06 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Where Does RESP Withdraw by Student go on his US 1040?
- Replies: 27
- Views: 29119
MGeorge - Thanks for this; I have wondered about this as well (though my distributions to my child are a couple of years away). I file the 3520/3520A on the RESP each year in my name. I claim the gains in the RESP each year on my 8621, using mark-to-market. I don't make enough income for that to be ...
- Thu Feb 18, 2016 10:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Taking stab at 3520, -A for TFSA
- Replies: 157
- Views: 221824
- Sun Feb 14, 2016 6:50 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Taking stab at 3520, -A for TFSA
- Replies: 157
- Views: 221824