Search found 75 matches
- Wed Jul 14, 2010 2:56 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Emptying out an RRSP for the Home Buyers' Plan
- Replies: 11
- Views: 7429
- Wed Jul 14, 2010 2:43 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Emptying out an RRSP for the Home Buyers' Plan
- Replies: 11
- Views: 7429
- Wed Jul 14, 2010 2:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Emptying out an RRSP for the Home Buyers' Plan
- Replies: 11
- Views: 7429
- Mon Jul 05, 2010 8:48 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Emptying out an RRSP for the Home Buyers' Plan
- Replies: 11
- Views: 7429
If the RRSP was a term deposit or bank account would you take the interest earned each year and convert it to USD using the exchange rate at the time rather than take the final value minus the starting value and converting using the current tax years exchange rate? Mutual funds or other securities w...
- Mon Jul 05, 2010 1:50 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Interaction of forms 2555 and 1116
- Replies: 13
- Views: 10291
- Fri Jul 02, 2010 8:38 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Treaty Declaratiions & RRSP Transfers
- Replies: 3
- Views: 3123
So, for a year in which you collapsed an RRSP and opened a new one, in the 8891 for the collapsed RRSP the full amount gets reported on line 7a as a distribution and then the taxable amount on line 7b is zero? Do you need to do anything else besides put the amount in line 16a of the 1040? Do you nee...
- Tue Jun 15, 2010 3:30 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESPs with U.S Citizen Subsciber--any hope?
- Replies: 32
- Views: 22261
- Tue Jun 15, 2010 2:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESP reporting in the US / Form 3520
- Replies: 2
- Views: 5522
Any insights yet Engineer? I'm also looking for some guidance in filling out this form. On a related note, I can't seem to find mention anywhere of how the CESG should be handled. In the eyes of the IRS is this income for the subscribers of the RESP (usually the parents)? It obviously increases the ...
- Tue Jun 15, 2010 2:04 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESPs with U.S Citizen Subsciber--any hope?
- Replies: 32
- Views: 22261
- Thu Apr 22, 2010 8:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESPs with U.S Citizen Subsciber--any hope?
- Replies: 32
- Views: 22261
- Thu Apr 22, 2010 2:04 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESPs with U.S Citizen Subsciber--any hope?
- Replies: 32
- Views: 22261
Our children are not U.S. citizens at this time. My wife has American citizenship from her father but the laws require her to have lived at least 5 years in the U.S. in order to pass this citizenship on to her children. At some point they may acquire U.S. citizenship but it's not an automatic thing.
- Wed Apr 21, 2010 6:27 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESPs with U.S Citizen Subsciber--any hope?
- Replies: 32
- Views: 22261
Our children qualify as dependents but they are not U.S. citizens, U.S. nationals or U.S. resident aliens so they don't qualify for the child tax credit. So as far as me filing U.S. taxes goes it seems like more of a hassle than anything. Though there may be complications I'm not anticipating if we ...
- Wed Apr 21, 2010 11:28 am
- Forum: Canada / United States Tax & Accounting
- Topic: RESPs with U.S Citizen Subsciber--any hope?
- Replies: 32
- Views: 22261
- Wed Apr 21, 2010 11:18 am
- Forum: Canada / United States Tax & Accounting
- Topic: RESPs with U.S Citizen Subsciber--any hope?
- Replies: 32
- Views: 22261
- Wed Apr 21, 2010 10:08 am
- Forum: Canada / United States Tax & Accounting
- Topic: RESPs with U.S Citizen Subsciber--any hope?
- Replies: 32
- Views: 22261
I wish I'd known more about this about 6 years ago. Our situation is we have family RESPs for our children that we've contributed to for 6 years with both my wife and I listed as contributors. My wife is a dual citizen and I'm Canadian. She hasn't been filing U.S. taxes because her income has not be...