Serbinski Accounting Firms

One thing I am confused about is that do I have to attach Schedule E and report the amounts from 3520-A owner statement into Part III of Sch. E (Income or loss from Trusts)? If I do that then does it mean I combine all of interest, dividends, other income as Passive income or as Ordinary Income? If ...

I have a RESP in Canada that I hadn't closed before moving to USA. I have filed 3520 and 3520-A. However, I am not sure what to do with the "Foreign Grantor Trust Owner Statement" that I issued to myself. Due to the nature of the account (Knowledge First Financial) I have interests, divide...

[quote="DrJFM"]Dear MGeorge (and any others fighting w these things) Your plan for your eventual RESP withdraws sound straightforward. But there is the page 3 line 9 3520A listing of "how much of the trust do you own" . I never considered myself as owning the Govenment 20% match ...

bumping this thread in hope that someone can reply to my earlier queries. I would appreciate if someone could try to reply to my specific questions. Thanks.

[quote="tony"]hi Jayamit, I search in this forum: it looks like 3520. But, also you need to fill FBAR + FATCA. Regarding the details, I suggest that you read on this forum. I know there are lots of them. And, also don't ask a general question try to be more specific so that your question g...

[quote="tony"]jayamit, The question is where your daughter is. If she lives with you in the US more than 183 days in a particular tax year, then the earning although not distributed needs to be reported![/quote] Hi Tony, Thanks for the reply. I understand that the earning has to be reporte...

[quote]For U.S. purposes, any income earned with in the trust and attributable to a U.S. beneficiary is taxable in the hands of the beneficiary.[/quote] I have an RESP set up with Knowledge First Financial in which both me and my wife have been mentioned as Subscribers and my daughter as the benefic...

I am a US person and have an RESP in which both me and my wife are subscribers, and our daughter is a beneficiary. We became US person last year for tax purposes as I moved to USA on TN-1 status. We are Canadian citizens. I have gone through this thread in details and the help from all the contribut...

Hi All, I believe these topics must have been discussed several times before and I did go through some of the suggestions on the various posts, but my situation is bit unique and hence I am not sure what to do or how to do it. So, here it is: a) My wife and I own a business in Canada (holding incorp...