Serbinski Accounting Firms

if i have a job (doing programming online for a company overseas), and it is only 1 time job. What category shall i put it? (i received a payment)

1. is it a wage?
2. or a business income?
(i dont' intend to claim any business expense or anything)

thanks

Even there is no transaction (buy / sell), the transaction summary shows :
1. gain. some times there is loss (negative) value.
2. saving bonus

Questions:
1. In this case, is the gain considered unrealized or realized?
2. if it is unrealized, it means i don't need to include it in the tax? (to ...

thanks Nelsona,
For spouse yes, clearly mentioned on the form itself.
But, for dependant (qualifying child), it refers to pub 519.
One of them is to live with you > 6months. But, we came to US since Nov.

1. that 6 months, is it defined in US location?
2. if I claim, and rejected, will it trigger an ...

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 gets answered.

1. can i claim basic exemption on my spouse? for 1040NR?
assuming we're all arrived in US since Nov 2016?
(all of us were canadian residents)

2. does it need to be prorated? based on the number of days in US?

2. what about my son? it looks like can't as it doesn't fulfill the requirement of stay 6 ...

Thanks Nelsona.
One last question, what kind of property that is mandatory reporting on form 8833?
There is a penalty of $1000 if not reporting.

thanks

Nelsona,
1. is 8833 with respect to this mutual fund a mandatory? Or optional?
2. in case all my funds are losing, it'd be profitable for me to be opted out of 8833.
Example:
2009 purchased a mutual fund book cost $1000
2010 become canadian resident, mutual fund FMV $100,
2015 cease to be canadian ...

"3. you do need to report the trades occurring after October on your 1040NR"

I am confused with this point 3. This trade (assuming outside RRSP) is considered a foreign income. Hence, 1040NR doesnt' require to report foreign income right?

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!

What should we do for such case? Since 1009 form is issued, it means that information has been shared to IRS. That said, you need to pay tax when filing your tax? Otherwise, IRS will see the discrepancy and come after the person.
Right?

Questions:

1. Where to report foreign bank interest on state tax return Schedule (CA) 540NR? Should be line 8 or 21f? The problem is that the definition of line 8 seems to be limited to US sources.

2. That said, does it also mean that foreign investment (mutual fund) need no schedule D 540NR?

3 ...

After I resign from a company in canada on Nov 11, 2016 then I flied to California on Nov 12, 2016 to work.
However, the procedure to close & transfer those accounts into my personal account takes 2 weeks, where I already reside in California.

Is that transaction need to be reported in state tax ...

Thanks for the prompt reply.
That's federal tax.

1.However, don't I have to report year by year in california tax return?
2. is it then $1 the basis to calculate the tax?

is "Income re-invested" added to the book cost?
e.g.

date amount

1 $1000
30 income reinvested $1

total $1001

Refering to
https://forums.serbinski.com/viewtopic.php?t=11674&highlight=rrsp

If although non resident, still need to report RRSP on 540NR, do we also need to :
1. report other investments to california tax 540NR? while still non-resident alien?
2. report bank accounts interest on 540NR? (I ...