Serbinski Accounting Firms

Is the proper way to report mutual funds (PFIC) within a A TfSA and RESP is to report the income from the funds via a 3520\3520a and to make a MARK TO MARK election to report the growth of the funds on a form 8621 ?

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Thanks Nelsona, I had forgotten that I had previously asked this question. My memory is slipping.

I'm confuded, for a business that has US income but no establishment in US and time spent in US < 6months with withholding tax when filing a 1120F with form 8833 does the return include all US income and expenses ? If so how do you reduce tax owing to zero ? What form do you need to support ...

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If a corporation does business in the US and files a Treaty Based Return for no permanent establishment....does the corporation have to complete financial detail on 1120F ?

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When a Canadian estate which I assume is a foreign non-grantor trusts files a T3 and pays tax on its income can it claim that tax as a foreign tax credit against the income that is allocated to beneficiaries via Form 3520 Schedule B ?

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Forgive me if this topic has been discussed. I have searched and have not found the same particulars.

I am a US and Canadian citizen living in Canada. My dad (lived in US) died last year and named me as a beneficiary of his Traditional IRA which I have received in 2014. I realize that I need to ...

I am a US citizen and my wife is not and we live in Canada. I own qualifying farm property which if sold will have significant capital gains which will for the most part be offset by the Cdn Lifetime Capital Gains Exemption.

Is there anyway I can legally avoid US capital gains if I sell this ...

In the US if one has a rental home which becomes a vacation property for personal use is there a deemed disposition as there would be in Canada ?

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Where does one find the Foreign Non-Grantor Trust Beneficiary Statement as referred to on line 30 of the Form 3520 Instructions ?

I've looked all over.

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On schedule NEC it says that losses are allowed for Canadians.

Maybe I need to clarify...the income that was reported on the t3 was capital gains on land which has been distributed to a US/CDN beneficiary. The beneficiary has reported the land distribution on 3520 and the trustee is proposing to prepare. 3520A with a beneficiary statement disclosing the land ...

Is a distribution from a Canadian Situs Trust whose owner, Trustee and beneficiaries are Canadians and US citizens taxable to the US citizens ? If so, how ? The distribution was reported on the 3520 and 3520A Statement of Trust Beneficiary.

The Trust paid Canadian tax via a T3. The Trust has no US ...

I know salary and wages are considered earned. My question is whether dividends can be considered earned if they are reasonable and represent profits from the corporation.

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I am referring to the Foreign Earned Income Exlusion.

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