Search found 292 matches

by ND
Sat Apr 20, 2024 11:33 pm
Forum: Canada / United States Tax & Accounting
Topic: Living in US for 15 years - Just tuning into RRSP challenge!
Replies: 9
Views: 3314

Re: Living in US for 15 years - Just tuning into RRSP challenge!

say that to Frommontreal2AZ. I responded to his 2024 addition
by ND
Tue Mar 05, 2024 10:39 pm
Forum: Canada / United States Tax & Accounting
Topic: Living in US for 15 years - Just tuning into RRSP challenge!
Replies: 9
Views: 3314

Re: Living in US for 15 years - Just tuning into RRSP challenge!

Fug 1 2. Should I get compliant with 8938 and FBAR before I make this change? If so, how does one go about doing that? Amend my previous 3 years of returns? file streamlined amended 1040s before it closes. https://www.irs.gov/individuals/international-taxpayers/us-taxpayers-residing-outside-the-unit...
by ND
Tue Mar 05, 2024 10:36 pm
Forum: Canada / United States Tax & Accounting
Topic: Living in US for 15 years - Just tuning into RRSP challenge!
Replies: 9
Views: 3314

Re: Living in US for 15 years - Just tuning into RRSP challenge!

IR-2014-97, Oct. 7, 2014 The Internal Revenue Service today made it easier for taxpayers who hold interests in either of two popular Canadian retirement plans to get favorable U.S. tax treatment and took additional steps to simplify procedures for U.S. taxpayers with these plans. As part of this, th...
by ND
Tue Mar 05, 2024 10:33 pm
Forum: Canada / United States Tax & Accounting
Topic: Living in US for 15 years - Just tuning into RRSP challenge!
Replies: 9
Views: 3314

Re: Living in US for 15 years - Just tuning into RRSP challenge!

Nelsona - can you pls cite the source for saying 'You need to produce at the least the last 3 years of form 8891'? Just curious how you know that once the 8891 requirement was dropped years ago, cannuckinpa would now need to file those? My gut reaction would have been otherwise. cannuckinpa consider...
by ND
Tue Mar 05, 2024 10:20 pm
Forum: Canada / United States Tax & Accounting
Topic: 1099 for work performed in Canada
Replies: 7
Views: 11129

Re: 1099 for work performed in Canada

thank you my parrot sarahlly unless you're a chatbot
by ND
Tue Feb 27, 2024 4:32 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP Withdrawal FreeTaxUSA
Replies: 1
Views: 331

Re: RRSP Withdrawal FreeTaxUSA

Questrade does have EIN, which you can use free online EIN finders to locate FYI in context of 1065 Schedule K-1 and K-3 the IRS has issued a statement concerning the removal of FOREIGNUS as a taxpayer identification number (TIN). If the foreign partner does not have a valid SSN or TIN, then enter 0...
by ND
Tue Feb 27, 2024 4:28 pm
Forum: Canada / United States Tax & Accounting
Topic: Tax Filing Software
Replies: 6
Views: 818

Re: Tax Filing Software

Drake
by ND
Tue Feb 27, 2024 4:26 pm
Forum: Canada / United States Tax & Accounting
Topic: How to report RRSP withdrawal/closure on Form 8938?
Replies: 2
Views: 386

Re: How to report RRSP withdrawal/closure on Form 8938?

use the open/close form boxes, tick 'closed' in your case
by ND
Tue Feb 27, 2024 4:25 pm
Forum: Canada / United States Tax & Accounting
Topic: US and Canada Tax questions on sale of a US House
Replies: 15
Views: 1486

Re: US and Canada Tax questions on sale of a US House

"can I qualify for the principal residence exemption, similar to US residents, and not have to report the sale to the IRS for the 2023 Tax Return?' There is a false premise embedded in this question. When US property is sold, Form 1099-S is filed with IRS and when claiming PRE, the sale, gain a...
by ND
Tue Feb 27, 2024 4:15 pm
Forum: Canada / United States Tax & Accounting
Topic: W-8BEN Rev 2021 - Question 6a/6b
Replies: 3
Views: 375

Re: W-8BEN Rev 2021 - Question 6a/6b

put SIN on 6a, leave 6b blank. 6b is only checked when your country doesn't issue you a tax ID.
by ND
Sun Jan 07, 2024 9:28 pm
Forum: Canada / United States Tax & Accounting
Topic: Married file jointly vs separately
Replies: 2
Views: 24316

Re: Married file jointly vs separately

You can amend a return to change from married filing separate to married filing joint but not from married filing joint to married filing separate unless you do so prior to the original filing deadline without extensions. So, once you file a joint return you can not change it to a separate return if...
by ND
Fri Dec 29, 2023 10:10 am
Forum: Canada / United States Tax & Accounting
Topic: Us citizen selling selling their home with CDN spouse
Replies: 12
Views: 122380

Re: Us citizen selling selling their home with CDN spouse

So, you're saying that in your original reply 'Yes, you report half the gain, which means you should be tax fee, and may not even have to report the sale', you should only have stated 'Yes, you report half the gain, which means you should be tax fee'
by ND
Wed Dec 27, 2023 2:24 pm
Forum: Canada / United States Tax & Accounting
Topic: Us citizen selling selling their home with CDN spouse
Replies: 12
Views: 122380

Re: Us citizen selling selling their home with CDN spouse

The importance of the phrase "MAY not have to report" seems to have been overlooked. These were your words, not mine. There's no overlooking when clarifying when and when not an excluded sale would be reported on 1040.
by ND
Wed Dec 27, 2023 2:22 pm
Forum: Canada / United States Tax & Accounting
Topic: Us citizen selling selling their home with CDN spouse
Replies: 12
Views: 122380

Re: Us citizen selling selling their home with CDN spouse

But Cdn spouses and current residents selling a US property, whose 2/5 yes residency qualified it as principle residence, would.