Serbinski Accounting Firms

I receive drawing from a limited partnership. This box was left blank. Will this create problems when I file my personal Canadian tax return.

thx

thx.... will do .... or at least get my son to do some reading ...

[i]'Sounds like a dividend from a passive foreign investment company ("PFIC"), which would not be qualified dividend income.'[/i] [i]... what is PFIC


Income earned in company that pays dividend is all from cash certificates, publically trased bonds and shares and some capital gains.

My son (an American citizen) moved to the USA (Houston, Texas) four years ago where he lives (wife and two chIldren)and works. Occasionaly he receives a dividend from our family company which was once an operating company but now only holds investments. He is a 5% holder of preferred shares.

For ...

thanks for the response.

I am a canadian citizen. My brother moved to the USA 45 years ago and died recenly leaving me his estate. I received a 1042-S tax slip from Bank of America (trustee of estate) with withholding taxes. According to bank of america executor, the money was a cash capital distribution from my brother's ...

I have two companies which my canadain accountnat set up for me. For simplicity company A is my consulting company and company B is the parent company. I am doing my corp tax returns by computer and I have figured out how to enter all items except for the dividends I have paid from my operating ...

thx.

I will be receiving a deeded dividend on wind up of Canadian company that only held marketable securities. I have been told that the IRS treats Canadian deemed dividend as capital gain with the gain calculated as the amount of the cash proceeds less the cost base of the capital stock of the company ...