Serbinski Accounting Firms

Hi Nelsona, Wondering if you can please guide here. With regards to GIC in TFSA account, Value was 1200 CAD on Dec 31st 2016: 1 USD = 1.3460 CAD Value was 1250 CAD Sold on May 3rd 2017: 1 USD = 1.297 CAD Interest to be declared is 50CAD (converted into USD with rate on May 3rd) on 1040. could you pl...

Hi Nelsona,
I would really appreciate your guidance here. I am sorry if these questions have come up before but I cannot seem to find them.
Thank you,
Sam

Hi, I am using Turbotax to file returns. (1) In my TFSA account, I have 3yr GIC (started in 2014 when I wasn't US resident) which matured in 2017 (when I was a US resident). In my US income tax return for 2017, do I report the total interest received in 2017 (from 3years) or split it across 3years a...

Thanks Nelsona for your help.

Very quick question please and this may have been answered before so I do apologize. Is filing a departure return = filing a Canadian return + specifying the date when one becomes non-resident of Canada. Kindly confirm and thank you very much (awesome forum).

I have similar situation (Canadian citizen on TN visa) where I didn't intend to stay in US for long but because of job kept living here (ultimately would go back to Canada). Additionally I have house and savings account (CAD and a US interest savings account with TD where I have kept USD). In order ...

Thank you so much Nelsona for the response. Since I didnt claim depreciation in 2016 return, in my 2017 return, could I claim for 2016 and 2017 or would I need to file an amended return for 2016 for Georgia?

Thank you.

Thank you for the reponse Nelsona. If I may ask further, - had I not declared myself as non-resident through NR73, would I have been able to justify not being present in Canada throughout and at the end of calendar year (hence not being a resident), still received rental income + lived and earned in...

If the NET rental income is Zero, then could you please advise if one has to still claim depreciation (on US tax return) and also file 1116?

Hi there, (1) I moved from Canada to US for job and when I filed my NR73 for residency status determination, I was termed as deemed non-resident of Canada even though I have a house, TFSA, RRSP, debit and credit cards, and driver's license in Canada. Do you agree with the assessment or should I writ...