Search found 14 matches

by larklab
Thu Oct 13, 2016 3:11 pm
Forum: Canada / United States Tax & Accounting
Topic: 401K rollover in the US. Report in Canada
Replies: 2
Views: 799

Thanks!! That's a relief.
by larklab
Tue Oct 11, 2016 6:35 pm
Forum: Canada / United States Tax & Accounting
Topic: 401K rollover in the US. Report in Canada
Replies: 2
Views: 799

401K rollover in the US. Report in Canada

Hi,

I am a tax resident of both the U.S. and Canada. I rolled over a 401K to another 401K plan in the U.S. and was issued a 1099-R. Does this rollover get reported on my Canadian taxes and if so, how?
by larklab
Wed Oct 14, 2015 5:22 pm
Forum: Canada / United States Tax & Accounting
Topic: U.S. PR in U.S. with CDN RRSP - what do with Schedule B, III
Replies: 2
Views: 1025

Thanks Nelsona! This helps a lot.
by larklab
Tue Oct 13, 2015 5:58 pm
Forum: Canada / United States Tax & Accounting
Topic: U.S. PR in U.S. with CDN RRSP - what do with Schedule B, III
Replies: 2
Views: 1025

U.S. PR in U.S. with CDN RRSP - what do with Schedule B, III

Quick question - I am a US permanent resident with a Canadian RRSP. I did not make contributions to this RRSP in 2014 and the total of my foreign assets is less than the 100K/150K U.S. threshold. I'm not quite sure how to report the RRSP - specifically on Schedule B, part 3, line 8. I filed FBAR and...
by larklab
Wed Oct 08, 2014 11:28 am
Forum: Canada / United States Tax & Accounting
Topic: RPP turned LIRA in 2013, confused about reporting
Replies: 12
Views: 4307

I looking to clarify a point about deferral of taxation on a LIRA via form 8891. I made the original RPP contributions while a resident of Canada. The RPP was rolled into a LIRA years later while I was a U.S. permanent resident. My understanding is that I can defer tax via 8891 provided the contribu...
by larklab
Wed Oct 08, 2014 11:22 am
Forum: Canada / United States Tax & Accounting
Topic: How do I report my Canadian refund on U.S. return
Replies: 9
Views: 2357

Thanks nelsona.

What I'm trying to figure out is where to I write $YY on form 1116 (and potentially elsewhere on the return). I don't know where it belongs.
by larklab
Tue Oct 07, 2014 11:49 pm
Forum: Canada / United States Tax & Accounting
Topic: How do I report my Canadian refund on U.S. return
Replies: 9
Views: 2357

I'm staring at form 1116 right now and have trouble figuring out where to report the amount I was refunded. Is this a reduction?
by larklab
Tue Oct 07, 2014 11:48 pm
Forum: Canada / United States Tax & Accounting
Topic: RPP turned LIRA in 2013, confused about reporting
Replies: 12
Views: 4307

sorry - I posted this under the wrong topic. Will post in the appropriate place now.
by larklab
Tue Oct 07, 2014 11:46 pm
Forum: Canada / United States Tax & Accounting
Topic: RPP turned LIRA in 2013, confused about reporting
Replies: 12
Views: 4307

I'm staring at form 1116 right now and have trouble figuring out where to report the amount I was refunded. Is this a reduction?
by larklab
Thu Jun 19, 2014 12:37 pm
Forum: Canada / United States Tax & Accounting
Topic: How do I report my Canadian refund on U.S. return
Replies: 9
Views: 2357

How do I report my Canadian refund on U.S. return

I am a U.S. PR employed by a Canadian employer. I completed my Canadian 2013 taxes and filed and extension for my U.S. taxes. The Canadian government gave me tax refund for 2013. The time has come to start estimating my what I owe the U.S. (if anything) - how do I account for the refund (some of whi...
by larklab
Thu Jun 19, 2014 12:31 pm
Forum: Canada / United States Tax & Accounting
Topic: RPP turned LIRA in 2013, confused about reporting
Replies: 12
Views: 4307

The people I dealt with were surprisingly clueless. There has to be a value, right? or some proxy. How else would they know how to roll it out. Okay - thanks for the info.. So to recap 2012 - amend taxes reporting empty LIRA (8891) and unrolled RPP (8983) 2013 - FBAR LIRA and other accounts, report ...
by larklab
Thu Jun 19, 2014 11:24 am
Forum: Canada / United States Tax & Accounting
Topic: RPP turned LIRA in 2013, confused about reporting
Replies: 12
Views: 4307

Hi there, Thanks for your speedy response. The LIRA has only existed since 2013. I was referring to this passage in your note "Since 2012 however, there are other reporting mechanism (form 8983) related to your foreign HOLDINGS (not accounts, not income) and your RPP needed to be included on that fo...
by larklab
Wed Jun 18, 2014 10:45 pm
Forum: Canada / United States Tax & Accounting
Topic: RPP turned LIRA in 2013, confused about reporting
Replies: 12
Views: 4307

Thanks nelsona. I'm sorry for the delay in my response. So the fbar deadline is approaching and I think I have that under control. The rpp existed in 2012 but the fund can't figure out what the peak value was...or any value it had at anytime that year. Basically, they can give me the value on the da...
by larklab
Thu May 01, 2014 2:00 am
Forum: Canada / United States Tax & Accounting
Topic: RPP turned LIRA in 2013, confused about reporting
Replies: 12
Views: 4307

RPP turned LIRA in 2013, confused about reporting

Hi, I've gone over many of the other posts regarding RPPs and RRSPs, and LIRAs..but I'm still confused, so I'm posting these questions. I am a Canadian citizen. I was resident for tax purposes in the U.S. while an F-1 visa student from 2008-2012. In 2012, I became a permanent resident. From 2002-201...