Serbinski Accounting Firms

My Agent is not involved in collecting remittances. So I know for certain he does not need access to the NRF account. per se. It doesn't appear that this form will need to be filed, unless needed and we'll come to that bridge when needed.

Hi all,

I have a rental property in Canada. I am living in the US for the past few years.

My agent received a NR95. I thought that it is to authorize the same agent and/or others to tax information for the NRF account.

However, when I call the CRA NR Hotline, I was told different. The lady ...

Hi Guys,

I have a question pertaining to foreign tax credits and how they're used to offset foreign income or even passive income.

From last year's taxes, I see that in my current year taxes, some a few Ks worth of foreign tax creds from Canada were not used and simply carried over to next year ...

I took a stab at Turbo Tax Premier, and select a rental property outside of US, in Canada. But it was still asking me for a Rental Statement kind of questions.

Shouldn't I jut be reporting the NR4 income? I'm totally confused how to report a rental in Turbo Tax.

HELP!

Hi guys,

I have a rental property with properly filed NR6, etc. I know how to do the simple S216 as well. I also have RRSPs, and bank accounts, mutual funds, and a LIRA account.

So will I be able to do or take advantage of TurboTax this year?

Do let me know.

Thanks,

Farhan

Hi nelsona,

I'm just not sure how to report my rental property in the US. There is a CCA method applied, and I'm not sure if any of the tax packages can handle that. Do they?

Nonetheless, since this is the first year after cross border, I am going still erring on the side of caution and give ...

Having gone through this stuff last year, I would recommend hiring a tax accountant and have them care of your "transition" year, if that is the case.

Taxes are the most stressful part of working in the US, at least in the beginning...

In 2014, I filed only one NR6 (for myself but not my spouse), for the partial year. I was able to, however, file my S216 correctly because I spoke to CRA, and they let me file two S216s, both for myself and my wife (50/50 split).

For 2015, we did it correctly and filed two NR6's. I am getting ready ...

If I read this post correctly, it seems like if you've got significant RRSPs in Canada, and are a US Resident, you should withdraw your RRSPs in a way that you incur lowest taxes (though I am not sure how to calculate how to calculate that amount). I guess because RRSP interest is taxable in the US?

Having gone through this process.

Remember FOLKS, your NR6 is due.

If you're married, don't make the mistake I made. When I initially filed my NR6, I did one form, but for most spousal arrangements, you co-own the property 50-50%. If that is the case, you submit two NR6 forms. Not so hard, once ...

So now I am trying to get through to the IRS line to tell them that I disagree with their assessment, and intend to file 1040X and a W-7 for my kid.

So this brings me to form 1040X. I generally like to understand things, but wanted to confirm that I did 1040X correctly. As far as I understand, I ...

I went to the South Market IRS office in San Jose, and was told that I needed to:

a. Fill out 1040X because they removed the dependent from my file
b. Form W-7 (had this already)
c. Have my child (dependent) present with me

So basically, all this effort, time and parking costs for nothing ...

Does she need to accompany me to the IRS office?

On the W-7, line 6c. Also, I'm not sure where the "visa" number is located for the H-4 visa. I see a stamp, visa type, and a handwritten expiry date.

Hi guys,

Though my taxes were done by Deloitte, they failed to mention that I needed an ITIN for my daughter (almost 7 years old). So my US Federal return has disallowed this dependent credit. Now I need to file a W-7, but I'm not sure which option to select on this form. I have an H1-b visa, and ...

If the agent is no longer required, what happens to the NR6 I submit every year? I presume I still do the NR6 to take advantage of the net income from rental, but do I still need an agent?