Serbinski Accounting Firms

Thank you very much for your response 1) I wanted to verify: when you mention the chart, I presume you are referring to "Table 2, Source of Income" on page 13 of the Publication 514 for 2015. Do I understand correctly? 2) If I am following well, when resourcing my US-source interest, I use...

Thank you very much for your explanations. I had previously not sourced this appropriately, and have revised my work (I am using TaxAct software.) I have removed my US interest and US dividend income from my Passive Form 1116. I then created a Resourced Form 1116, on which I show the US interest inc...

US citizen, Canadian resident. I have a non-registered investment account located in Canada. This account has a Canadian dollar sub-account with Canadian holdings, and a US dollar sub-account with US holdings. I understand from Forum posts that the sourcing of investment capital gains is based on th...

Thanks for the help. Actually, even taking out the 2% threshold, it is still a very big number. Yes, I think what they did, and are doing still, is terrible, dare I say immoral. FYI, they gave me a quote to continue to do my and my two children's returns every year. It was more than what we spend in...

Canadian resident, US citizen. During early 2015, I paid very large fees to have my streamlined filings done for 2011-2013. The fees included the 1040's and also all the 3520 and 3520-A's and FBARS etc etc. (It was a firm in the Montreal region and it was incredibly expensive. Never again...) Later ...

Thank you very much for your help, Nelsona.

Correction: In my last post I said we would amend my Canadian return to remove the FTC. I should have said we would remove from the FTC the amount of dividend tax withheld. I believe there would still be an FTC on the Canadian return: If I am following the logic, my FTC for Canada would be 3% of the...

Just want to make sure I am following. For 2015, the $2100 I spoke of was my Line 47 of the 1040, (I had no other taxes or credits to add or subtract). And that amount was indeed before considering the passive credit of $1300. So that establishes my effective tax rate for the US at 3% ($2100/AGI $70...

In prior years, 2011-2014, my effective tax rate to US was 0. On my 1040's, I never claimed any refund of the dividend tax withheld. The preparer that did my Canadian and Quebec taxes claimed these amounts as the foreign tax credit on my Canadian returns. I am working now on my 2015 US return. Year ...

Canadian resident, US citizen. For years my investment company had been withholding at 15% on my dividends from US companies. Recently they sent out a packet of forms to update all their client files, and this included the W-9 form. On a recent statement I see that they are not withholding any more....

Hi, I'm a resident of Canada and a U.S. citizen. During 2015 I received a lump sum payout from the U.S. of a deceased relative's IRA. The U.S. withheld 10% of the taxable amount, which was the entire amount in the IRA. I also started to take some non-periodic withdrawals from some private annuities ...

Thanks again, Nelsona. Your advice really helped. I was able to advance very well with the Taxact software. However, I am now running into some difficulties, with the Form 1116 Line 16 adjustments to Line 15. With Taxact it appears that I must now do all computations myself on the side, and just ent...

Thanks, Nelsona. I have downloaded Taxact, and am now in the process of inputting some basic data and learning how to run it. So far I am understanding things and am happy with the software. But I have not yet started to input my foreign taxes paid; perhaps I will have further questions at that poin...

Hi, I'm a US citizen living in Canada. I paid to have my Streamlined filings done by a professional preparer, for years 2011-2013. Now I am trying to do my 2014 returns by myself, and this prior to October 15. But I am starting to have some big problems. I have been able to compute all the numbers f...