Serbinski Accounting Firms

Thanks for the response. Since you mention the amount held is tax and I have income from RRSP withdrawal in Canada, do I need to file a Canaduan tax return even though I am a non-resident ?.

I moved to the US from Canada in 2012. I filed 8891 for RRSP accounts part of the 2013 tax return. I withdrew all the monies from RRSP accounts in 2013. So, for this year, I'll file the 8891 , include the full distribution as income in the return. What about the 25% penalty paid ?. Where do I need ...

U.S income has to be reported on both Federal return and Quebec return. While I can claim U.S tax credit on the federal return, the tax software doesn't claim the credit on the Quebec return. Hence, it comes up with a huge provincial tax bill.

I am still debating if the U.S source income is exempt ...

http://www.irs.gov/uac/Where-to-File-Addresses-for--Taxpayers-and--Tax-Professionals-Filing-Form-1040

Link mentions, If filing 2555-EZ, send to Department of the Treasury
Internal Revenue Service, Austin, TX 73301-0215 , USA

But what about the California return, does it also go to Austin address ...

I have re-read the form, on line 8 it says, if you checked box on 6c), stop here. So, please disregard my question regarding. But confirm the rest.

This is the most straight forward and simplest IRS form I have seen :)

I am filing this for the first time.

6a) No
6c) check the box

7a, 7b) 0 (no distributions taken)

8) FMV balance of the account in USD

9) Contributions : 0 (none after becoming U.S resident)

10) Pls clarify

It seems like on 6c) I am asking to defer the undistributed earnings, but 10 saya enter ...

Hi,

Looked at the 3520A today. I have stock as well as Index Mutual Funds in my Self directed RESP. TD reports both a book value and market value for these in the monthly statements.

In the trust income (line 18/19), should I report the unrealized gain in the stock and include it on Page 3 and ...

Hi nelsona,
What is the "foreign housing exclusion or deduction" on 2555 ?. Is it relevant in my case, does it help in reducing tax ?. If so, how can I use it ?.
Thanks as always.

Hi,

To report U.S employment income on Canadian tax return, what is the income and tax paid I need to report. As there are medicare taxes and social security taxes are paid from the income do I need to subtract them from the income ?. Similarly, for the taxes paid, just add the federal and state ...

Thanks, What could be the ramifications, If I go ahead and put my actual depature date - April in my return and Septmeber in my wife's return and not include the U.S income in my return, but only report my U.S income in wife's return (Spouse's worldwide income) i.e I do the taxes as if I hadn't ...

CRA has determined my departure date to be September (submitted form NR74) as my family left Canada in September , while I actually left in April. Do I have to include my U.S income from April to September on the Canadian tax and get a tax credit for taxes paid to U.S or simply put my departure date ...

What kind of trust do I need the select when submitting the IRS online form for EIN for a Canadian RESP ?. I was thinking - Guardianship with one of my kids as the beneficiary. Is this correct ?.

Thanks for this. Do we need to file for EIN ?. My RESP is with TD Waterhouse - it is Self Directed.

Thanks,

Thanks for the clarification.

1)My spouse and kids moved to he U.S in September. My spouse had Canadian wages until September (and continues to work remotely for Canadian employer from US). Since I am planning to opt to file as full year resident for both of us, how much of her foreign source ...

Hi Nelsona,

I think I don't pass the Bona fide resident test due to the following :


Form 2555. My answers to this are Yes and No.

I have notified Canada that I have moved to US and hence a non-resident and not required to pay taxes in Canada.

13 a Have you submitted a statement to the authorities of the foreign country where you claim bona fide
residence that you are not a resident of that country? See instructions . . . . . . . . . . . . Yes No

b Are you required to pay income tax to the country where you claim bona fide residence? See instructions . Yes No

If you answered “Yesâ€￾ to 13a and “Noâ€￾ to 13b, you do not qualify as a bona fide resident. Do not complete the rest of this part.