Search found 5 matches

by abelc61
Wed Jan 16, 2013 5:20 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian mutual funds - foreign non-business income (box 25
Replies: 6
Views: 4620

Thanks for this, MGeorge. You certainly know a lot more about this than I do.

I am curious to see what Chartered Accountant Phil Hogan will have to add.
by abelc61
Wed Jan 16, 2013 3:29 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian mutual funds - foreign non-business income (box 25
Replies: 6
Views: 4620

I have a T3 summary showing foreign non-business income in box 25. The income is from a US source.

Should it be included in ordinary dividends on line 9a of Form 1040 and on Form 8621 as someone mentioned?

Thanks.
by abelc61
Tue Jan 15, 2013 5:58 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian mutual funds - foreign non-business income (box 25
Replies: 6
Views: 4620

Canadian mutual funds - foreign non-business income (box 25

Hello,

Could anyone please tell me whether foreign non-business income (box 25) from a Canadian mutual fund should be included in ordinary dividends on line 9a of Form 1040?

I can't find anything about this on the forum.

Thanks.
by abelc61
Tue Jan 15, 2013 5:55 pm
Forum: Canada / United States Tax & Accounting
Topic: TFSAs - A Case for US citizens resident in Canada owning?
Replies: 11
Views: 6310

What exactly do the threatening letters say? Is the IRS objecting to the opening of the TFSA or to something else?

Thanks.
by abelc61
Sun Dec 16, 2012 6:31 pm
Forum: Canada / United States Tax & Accounting
Topic: RBC Direct Investing TFSA EIN#
Replies: 9
Views: 7026

CdnAmerican,

Would you mind telling us what hassles you had with the IRS with regards to treating your TFSA as a trust when there was no tax nor penalty due? I may find myself in the exact same situation once I file the 3520/3520A for my TFSA at RBC. Thanks very much.