I can't point to a source but my understanding is that the IRS doesn't want to see your carryover unless and until you want to use it.
I keep track of it in a spreadsheet in case I ever need to use it. If you ever need it you could then follow your accountant's advice.
Search found 29 matches
- Sun Mar 24, 2019 10:13 am
- Forum: Canada / United States Tax & Accounting
- Topic: Unused Foreign Tax Paid Form 1116 Line 10
- Replies: 3
- Views: 2017
- Wed Apr 23, 2014 8:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Taxation of Income from Joint Accounts: U.S. vs. Canada
- Replies: 13
- Views: 8826
- Sun Mar 09, 2014 12:15 pm
- Forum: Canada / United States Tax & Accounting
- Topic: U.S. agent and Trustee's Signature for RESP
- Replies: 6
- Views: 5224
I was told by a lawyer that you are ALWAYS entitled to represent yourself in any type of legal process. So I don't think the Authorization of Agent is necessary to appoint yourself as your U.S. Agent. The one and only time I filed a 3520 (before I closed my TFSA), I did appoint myself without the Au...
- Mon Feb 17, 2014 8:52 pm
- Forum: Canada / United States Tax & Accounting
- Topic: fbar and 8938 penalties - per account or per complete form?
- Replies: 5
- Views: 4566
- Thu Apr 25, 2013 5:53 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Other 1040/NR obstacles
- Replies: 10
- Views: 5522
- Sat Apr 20, 2013 2:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Simplified election for AMT
- Replies: 2
- Views: 5339
IRS has a tool to determine whether you should file form 6251: http://apps.irs.gov/app/amt2012/assistant/process?execution=e3s1 Others have reported on this site not filing 6251 because they didn't owe AMT. But their not owing AMT was after the AMT FTC was taken into account. The IRS was then kind e...
- Thu Apr 18, 2013 9:56 am
- Forum: Canada / United States Tax & Accounting
- Topic: Unused FTC credits from 2011 and form 1116
- Replies: 8
- Views: 5227
- Wed Dec 05, 2012 11:57 am
- Forum: Canada / United States Tax & Accounting
- Topic: AMT 1116 Software
- Replies: 2
- Views: 2098
- Mon Oct 29, 2012 5:24 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Reasonable cause for amending FBAR
- Replies: 6
- Views: 4124
Some of the reasons listed here on the IRS website may apply to you:
http://www.irs.gov/uac/Information-for- ... de-the-U.S.
http://www.irs.gov/uac/Information-for- ... de-the-U.S.
- Tue Oct 09, 2012 5:55 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Unintentional Under report on form 8938
- Replies: 12
- Views: 6678
- Tue Oct 09, 2012 3:33 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Unintentional Under report on form 8938
- Replies: 12
- Views: 6678
- Fri Aug 24, 2012 7:18 am
- Forum: Canada / United States Tax & Accounting
- Topic: Penalty on late 3520 assessed inaccurately despite OK reason
- Replies: 11
- Views: 13867
- Thu Aug 23, 2012 12:33 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Penalty on late 3520 assessed inaccurately despite OK reason
- Replies: 11
- Views: 13867
- Sun May 27, 2012 12:34 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 8938 part 1 or 2?
- Replies: 14
- Views: 7682
Thanks to Filo for referencing this URL in another thread. http://www.groom.com/media/publication/1120_FBAR_Article_Final_Website.pdf If the taxpayer received no distributions during the tax year and does not know or have reason to know (based on readily accessible information) the fair market value...
- Sun May 27, 2012 11:22 am
- Forum: Canada / United States Tax & Accounting
- Topic: TD F 90-22.1 for Defined Benefit Pension Plan after retire?
- Replies: 3
- Views: 3243
I can't point to a reference but I don't see why FBAR requirements would change after you retire. Your pension enters your income stream and is reported that way. As far as value goes, the Form 8938 instructions (which are thought to be more stringent than FBAR) is clear: The value is what the plan ...