Serbinski Accounting Firms

US resident received Canadian RRIF distribution in 2018. Form 8891 (last revised in 2012) states to report on line 16a and 16b of 1040, but that cannot be right for 2018. Should I report on new line 4(a)? (The answer seems so obvious I hesitate to ask, but IRS treats RRSPs and RRIFs differently than...

My friend has been a US resident since 2005, formerly Canadian. He had an RRSP from his former Canadian life. He has turned 71 and the RRSP has turned into a RRIF. The issue is, he does not need to withdraw from the RRIF to finance his lifestyle and wonders why he should withdraw the minimum distrib...

Thank you. I keep porjecting back to when I was living in Canada and not a U.S. citizien ubut earned U.S. income and filed a 1040NR. I agree that's enough for this thread. But I may have to start abother one on how to deal with the wife's income taxex (i.e. differences in the way couples file in Can...

I have not been clear enough: I will have a salary in Canada, but also earn some income (gravy) as U.S. sourced consulting income.

Nevertheless: As a U.S. citzien living abroad, is the 1040 NR not the return I have to file with the IRA annually?

Thank you. What about filing Form 8833 with 1040 NR? Does that allow me to deduct contribution to employer-based RRSP to the same limit as if it was a 401(k)?

Thank you. I'll be able to contribute to RRSP in 2017, according to this scenario. Will that do me any good wrt to IRS? f I am a taxable resident of Canada and pay my Canadian taxes (after contributing to RRSP) will IRS want me to pay U.S. taxes on that contribution when I file my 1040 NR? If not, t...

Thank you. Yes, I am planning to Rothify as much as possible, for the reason you cite. WRT, to the U.S source consulting income, is there not another problem? RRSP contribution limits are based on previous year's tax return. But I will not have a 2015 tax return for Canada. I have not done one for a...

Colleagues, I am a citizen of both Canada and the U.S., currently living in the U.S. and planning to move to Canada for salaried employment. I have read the threads but I find them a little confusing. If anyone can help with the following questions, I'd appreciate it. One thing I do understand, is t...

I just want to make sure this is still current information. I am a Canadian citizen and a U.S. citizen. I have lived in U.S. since 2005. I have valid Canadian and U.S. passports but have not travelled to Canada since becoming a U.S. citizen. I'll be flying from U.S. to Toronto for two days for a fam...

Thank you. As I note in my original post, I made the 8891 election in 2005 and every year since. So, my 1040s are accurate. It is only FBAR that concerns me. Do you think they'll fine me for never having filed FATCA/FinCEN 114 (or whatever its predecessor was called)?

Thank you. What steps would you recommend to "fix it"? My situation is much simpler than the other ones I see here.

My question is a little different. I am a citizen of both Canada and the U.S. and resident of the U.S., where I continue to work full-time (i.e. taxable resident of U.S.). I moved to U.S. to work in 2005 (and became naturalized in 2014). I have reported the value of my (and my spouse's) RRSPs on 889...

I don't understand what dw means when he uses the verb "claim". I think he means "report". Do I understand that if I am a US citizen resident in Canada and I own I Savings Bonds I pay Canada as the interest accrues? Or does Canada follow the US? That is, I bought the I Bonds when...

I'll look up the IRA conversion

My wife and I are Canadian citizens living in the U.S. who have just become U.S. citizens. We will shortly be moving back to Canada for my work (Sod's Law!) My wife is, and will remain, unemployed. When we lived in Canada, we filed our tax returns separately but in the U.S., we have filed jointly. W...