Serbinski Accounting Firms

@nelsona - thanks for that, the Rev Proc 2010-19 was good to read about...after some more digging though, I am now concerned that I CANNOT elect mark-to-market in the same year I sold my funds...Is this correct? 2011 is both my first US tax year and the year I sold. Can I still mark-to-market? If I ...

I emigrated from Canada on Jan 1, 2011, so the mutual funds I owned at that time are deemed disposed of on that date for my Canadian 2011 taxes (i.e., I pay tax on those capital gains to Canada) I sold all my funds 2 months later on Feb 4 2011. I am now filing my US taxes, form 8621 for the PFIC. I ...

@Newdual or @CdnAmerican, Assumedly you have both now figured out how to enter the form 8621...any chance either of you want to post that 'instruction' page you wished you'd had, for those of us still muddled by (a) how to choose which option applies, and (b) how to provide all the info on 8621 give...

@DougF - I'm in the same situation - I had tiny mutual funds in Canada (income on my nr4 is only $10) and the 8621 seems like such a pain for such small funds. My question: I already cashed them out in 2011. So what option do I choose on the 8621? All of the choices (A through H in part I) seem to b...

Hi nelsona, I've looked through a bunch of the PFIC threads now, and there are seems to be a lot of confusion on this subject! Not to mention regular rule-changing... This is my first US tax return, as 2011 is my first year in the US, and I really wish I had sold the mutual funds before instead of a...

Hi, I am a Canadian (US resident) who had two mutual fund accounts with the same Canadian bank in early 2011 (I sold them all in August). One account was registered (RRSP) and the other was non-registered. I received nr4s for both accounts. For the registered account, the nr4 (box 14) said income co...

Great. Thanks so much for the speedy reply! One final point of clarification... It seems I will have some 'double counting' of money if I list 'max amount' during the year, at any time, across all accounts. For example, I had $20k in an investment account, moved this into a savings account, then tra...

Hi, I am a Canadian who moved to the US with my husband on Dec 28, 2010. This is therefore my first time filing US taxes and I have a few questions concerning completion of the FBAR: 1. We have multiple accounts in Canada. Some of the accounts that were open in early 2011 were closed later in 2011 (...