Serbinski Accounting Firms

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote"><i>Originally posted by nelsona</i>

It should be poited out that none of the online versons of Section 72 are up-to-date with the laws enacted in Oct 2004.

And the Finance ...

Here is a link where you can get the full text of the treaty
on the IRS web site


http://www.irs.gov/businesses/internati ... 39,00.html


and section 72 at

http://straylight.law.cornell.edu/uscod ... -000-.html

I am filling 1040-X to send RP 2002-23. The first year I was in the US I was a dual resident. My US residency stared in August 2002. So what should I write on the 1st line?

This return is for calander year:
Should I write 2002 or from August to December 2002?

There is another option on the same ...

Thanks Nelsona for quick reply. [:)]

It is an interesting logic that:
the non-taxable income on line 16 is not 'excluded' income in the eyes of the IRS.

I know that pub 514 is not strictly for foreign tax deduction.

This is very interesting. it reduces my US source tax liability and gives me a ...

Hi! Nelsona,

I don’t have a CPA but I spoke to a cross-border accountant in the south over the phone to find out his position on this.

I read the publication you have mentioned in the previous post:

Page 3 of Publication 514 says: You cannot take a credit or a deduction for foreign taxes paid ...

I read in another thread that I can claim the taxes paid to Canada as itemized deduction for RRSP collapse. This sounds very strange in my situation.
I reported on 16a $13250 and 16b $250 (gain after us residency), and paid taxes to Canada $3312 (25%), then Can I really claim the whole $3312 as ...

If You want to talk to Mr. Serbinski, He is in Toronto not too far from Detroit 4 hours drive. May be able to save thousands of dollars on panelty that you want to pay

Thank you Nelson [:)]

The other web site you gave me was very helpful. SO I am not going to report any contribution I made in that year or any deferred income for any of the past years in those statements. Since I had no distribution or trasfer in those years, I would use the straight forward type ...

I have edited the 1 st post to reflect exact wording of the Rev. Pro. 2002-23 and giving some additional information to show why my year end balance is much larger than the begining of the year balance. Also bringing into their attention that I became a US resident in the middle of the year and ...

Please see the following statement is in the right format and order. Appreciate your help.

Statement pursuant to IRS Revenue Procedure 2002-23

I am claiming benefit of Article XVIII(7) of the US-Canada Income Tax Convention with respect to the following registered Retirement Savings Plan (RRSP ...