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Thank you, Nelsona.

Thanks for reply.

I did report the the converted IRA as my income on Canadian tax return.

If I close the second Roth, will it help? Should I still file the election?

Nelsona, I moved back to Canada in 2010. I have a Roth IRA account opened in 2002 when I was working in the States. I did not know about the Roth IRA election until recently. Thus, I did not file the election. In 2013 and 2014, I converted some traditional IRAs to Roth IRAs in another institute, i.e...

Nelsona, I moved back to Canada in 2010. I have a Roth IRA account opened in 2002 when I was working in the States. I did not know about the Roth IRA election until recently. Thus, I did not file the election. In 2013 and 2014, I converted some traditional IRAs to Roth IRAs in another institute, i.e...

Nelsona,

Could you please answer the other question about the dividends? Thanks.

Nelsona I opened the account when I was working in US. I have another question: I received f1099-DIV for my mutual fund. After I read this forum, I understand that I should receive f1042s instead of f1099-DIV. It may be because I haven't changed my address for that account. Anyway, could you please ...

Nelsona, I am a Canadian living in Canada. I have two questions for you. 1. I received f1099-DIV for my mutual fund. After I read this forum, I understand that I should receive f1042s instead of f1099-DIV. It may be because I haven't changed my address for that account. Anyway, could you please tell...

Nelsona,

What about qualified dividends? Can I use it to calculate tax? Thanks.

I am a Canadian living in Canada. Please confirm or correct me: The interest on form 1099-INT is not taxable in US based on Pub 519; The capital gain on form 1099-DIV is not taxable in US based on Article XIII(4); The capital gain/loss on K1 (partner's capital account) is taxable in US and should be...

Assuming I make an automatic withdrawal from my RRIF every month, how is the calculation done?

Nelsona, Thanks for your help. Could you please confirm the following calculation of the second year’s taxable pension? In your example, after first year’s withdrawal, my RRSP contribution was reduced to $96K (100K – 4K), right? If my RRIF is now $490K at the end of second year and I take $20K...

Nelsona, Thank you for your help. Let me confirm my understanding of your meaning: So long as my RRSP is an individual retirement savings account, purchased by me alone, directly from the financial institution with which I do business, the principal is nontaxable in the USA when I take the distribut...

Nelsona, Thank you for your help. Let me confirm my understanding of your meaning: So long as my RRSP is an individual retirement savings account, purchased by me alone, directly from the financial institution with which I do business, the principal is nontaxable in the USA when I take the distribut...

nelsona, For the past 20 years I have been living in Canada. Before my retirement, my income was far below the Foreign Earned Income Exclusion limit, i.e. I did not have to pay US tax on my income. However, I used part of that income to purchase an RRSP (e.g. $10000). When I take distribution, is th...

For the past 20 years I have been living in Canada. Before my retirement, my income was far below the Foreign Earned Income Exclusion limit, i.e. I did not have to pay US tax on my income. However, I used part of that income to purchase an RRSP (e.g. $10000). When I take distribution, is the princip...