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I read in this site some thing about section 72(w). When did it come to be effective? my RPP was rolled over to RRSP in January 2004 and I withdrew that RRSP in February 2004.

But I became a US resident in 2002. I don't know how much RPP gain since 2002 to 2004 for me to eatablish cost basis on ...

I withdrew RRSP of US $1500 in 2004. Out of that US $550 came from RPP from a company in Canada I rolled over to RRSP in 2003. I read that October 2004 the rules changed regarding reporting RPP. But I withdrew my RRSP in Feb 2004. How do I treat this for reporting in 8891 and 1040. How to find out ...

Yes Sir,

Thank you for your patience with me [:D]

I spoke to 2 different people in IRS Philadelphia foreign tax branch they told me even after checking with their superiors that I cannot take the full deduction of the foreign taxes paid for the excluded income regardless of type of exclusion. It ...

<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>

You can't exclude anything from 2004 since you are filing a full year 1040. You ahve to include all your Cdn income, possible excluding any ...

Thank you so much Nelsona. I am so glad that I found this forum. I was clueless.
Yes I will buy the tax software.

Can I bother you one more time? Please don't get mad with me for asking too many questions!

Do you know where IRS got that date; July 27, 2004 and do I qualify to omit charitable ...

I don't have a financial software. Does Turbo tax Delux able to do form 1116? I don't have any capital gains and I had my RRSPs were in GICs in Canada. My only complication to tax is this foreign income

Thanks

I don't know which software to buy. Which is the best software that cover foreign income, taxes and form 1116

Thanks

Thank you so much Nelsona![:)]

I am almost done. But confused about few places

I read the instructions for form 1116. It says on page 14 for line 3 deductions, the gifts to charity made after July 27, 2004 should be considered. Why July 27, 2004?
Then it says for the tax year ending after July 27 ...

Thanks Nelsona.

I don't have a software. I am doing by hand. I don't understand why I have to put either standard deduction or sched A deduction on line 3

This income has nothing to do with those deductions. I did not take any deduction against RRSP income anywhere? Please help me to understand?

From RRSP withdrawal my pensions income on line 16a is US$13,938 and US taxable income is US$2651 (gain after becoming a US resident) on line 16b. I have paid Canadian taxes of US$3415.
So I pro-rated the taxes paid to Canada according to the taxable pension income for US (in other words the ...

I have sent Deferral according to Rev. Notice 2003-75 for 2003 with 2003 tax return in 2004. Then I found out that I have to defer 2001 & 2002 also and I have sent RP 02-23 statements with 1040-X for 2001 and 2002.

Now I am getting ready to mail 2004 tax with 8891. I withdrew all my RRSP in 2004 ...

I have read this forum and the Grasmick web site. I have a unique situation that I could not find any answer in both web sites.

I told my former company to transfer RPP into a RRSP in 2003. They said they mailed the check on December 12th 2003. So I sent the statement to defer tax on RRSP income ...