Serbinski Accounting Firms

Another question on the UCCB. I am a dual US-Canadian citizen, my wife is only Canadian. We are both residents of Canada. I file in the US as married, filing separately (my wife does not file US taxes). I am the higher income earner, so my wife is the one who includes the UCCB on her Canadian taxes....

Thank you Nelsona for your prompt reply. Just to be sure I understand, if one of my Canadian GICs matures, and I deposit the proceeds in my Canadian checking account (in CDN$), I do not have to worry about an "unrealized" gain or loss in the value of the principle of the GIC relative to th...

I am a US citizen who has been living in Canada since I was a child. All my financial accounts (checking account, and GICs) are in CDN$ only. I report to the IRS all interest that I earn. I never convert Canadian$ to US$. Are unrealized / accrued foreign exchange gains/losses on my checking account ...

Thanks Nelsona - much appreciated!

I am trying to fill out Form 1116 for the first time. I live in Canada, but I am a dual US - Canadian citizen. I have wages and a few thousand dollars of interest income (both from Canadian sources). What I am trying to figure out is whether the interest income fits within the "Passive Category...

I am a dual US / Canadian citizen, living in Canada for more than 30 years, with a Canadian wife. Our children are dual citizens. A number of years ago, my wife and I opened an RESP (family plan) for our kids. I have seen a number of posts on this Forum suggesting that if I had my name removed from ...

Nelson and others - The 2013 instructions for Form 3520 state (near the top of page 3 - right side - 2nd paragraph): "If a trust makes a gratuitous transfer to another trust, the grantor of the transferor trust is treated as the grantor of the transferee trust, except that if a person with a ge...

I should have mentioned that I file Form 1040 and all other required forms - I just wonder whether I should have been filing Forms 1040NR and/or 1041 for the TFSA and RESPs.

I am a dual US / Canadian citizen living in Canada for many years. I have 2 RESP accounts and 1 TFSA. I have been filing Forms 3520 / 3520-A, but I am now wondering whether I should also file from 1040NR or Form 1041 as well. Please note that my RESPs and TFSA have no US source income.