Serbinski Accounting Firms

Thank you for your response.

Can you comment on the following items from the original post? I am not sure how to respond to the software questions pertaining to Schedule B, Part III. I am using the TurboTax Premiere Windows PC download product.

Noting the NR4 form shows Income Code 39 ...

In tax year 2024 I started receiving payments from the pension plan. I have received an NR4 form, showing Income Code 39 (Superannuation or pension benefits - Periodic Payments). It also shows exemption code T for treaty. The non-resident tax withheld is 15%. The form includes a non-resident account ...

Thank you for the prompt reply.

Danielle

Received a Canadian bank estate check. Deposited in my US checking account.

1. OK to use multiple lines in part IV to enter details for one transaction?

2. For date should I entered the date the Canadian check was issued or the date my US bank foreign check collection dept completed processing and ...

I am thinking "Schedule 1, line 8, Other Income." makes sense for the CERB entry, but I am not absolutely sure. Turbo tax gives me enough space to enter a full description. e.g. "Canada Emergency Response Benefit (CERB)"

I am a Canadian senior, USA permanent resident. I received the senior one time CERB payment ($300 Canadian) in 2020. (I add CPP and OAS to my social security retirement income). Can anyone tell me what 1040-SR related forms, line number, should be used to report the CERB payment?

I am a Canadian citizen, US permanent resident. I just started receiving CPP.

The 1st check came in USD. The 2nd check came in CDN$. I anticipate that eventually I will receive these in USD, with direct deposit. I will call Canada Service before cashing that CDN$ check.

Anyone know what numbers ...

Thank you for your reply. I also appreciate the additional information regarding the 1040NR.

I am still in the USA. I expect there will be a day when I will want to return to Canada and turn in my green card. I have no family members in the USA.

I expect I would keep my 401K with my former employer. (a large conglomerate)
At age 70 1/2 the plan states you have to start taking RMDs or go on ...

bump

I am wondering if I posted this in the right place.

My mother past last year. My father is still alive living at home alone with the cat at age 97 in Canada. I understand the estate will be simple in that the assets are limited to the house (approx $400K CDN) and bank accounts (approx $50K CDN). There is no debt.

I have seen the will and I am named ...

Thank you for the prompt reply.

If you double click on the entry for line 256, using Studio Tax, a box opens up where there's a field identified as "Other deductions from a foreign pension income declared at line 115". Not sure when that's applicable. That field in the box seems to be the source of ...

I am a retired Canadian citizen living in Connecticut. After 30 years for family reasons I am considering a return to Canada. Hence I have been looking at some tax scenarios, based on me returning to Canada, (and returning my green card). I am single with no other family members in the USA.

The ...