Serbinski Accounting Firms

There will be no US tax consequences by inheriting this property. You will merely need to report the inheritance on Form 3520, because of its high value. However on the Cdn side, there will indeed be tax consequences for the estate. How to mitigate those need to be discussed with a Cdn estate planner.

Back file the statement and hope for the best.

there are downsides for NOT filing the extension if you owe taxes, including penalties. Also, some forms are required to be filed "timely", which is only true after April if you DO file the extension.

the income continues to beexempt from US and Cdn taxes. Ask your broker why the change in reporting.

yes they must be reported as pension income in order to determine your gross income (for HST, CCTB, clawback purposes). They are then deducted on your 25600 line as a treaty exempt income.

It will not. They remain passive foreign investments.

Well, ta act won't let you file without it, and yes, if you do file by paper, you need to attach the 1042-S, because it has the withholding amount.

Where is your 1040-S. Should have received by now.

Unless you are filing an elective return (217), you do not include pension income on the return, as it is not subject to graduated tax. It is flat taxed.

By treaty, US residents do not have any Cdn tax obligation on interest, a no withholding was necessary.

The entire gross amount, before taxes is considered income. The US tax is credited on your Cdn tax return.

Better answer: You can file full year under the anti-discrimination clause.

Gross Income - HSA.

Your 401(k) contributions are handled by another form (RC268), and your medical premiums become part of your Medical expenses for the year.

you can probably fill a 1042-s in their system. You want the withholding tax to go on the correct line as well.

It isn't 1099-R income in your case.

So, now that you have finally stated that she is US resident (never mentioned), we can make some progress here.... If the account is a simple investment account (not a pension), she can transfer the funds to any US brokerage. The US brokerage would initiate the transfer (she would need to ask if the...

Its not miscellaneous income -- it's IRA income. Nothing else. Line 4a/4b on page 1, or line 7 of the NEC Schedule. Plus penalty from 1040 scheduke 2, reported on line 17 of 1040-NR.

If it doesn't put it there, it (or you) are not doing it right.