Serbinski Accounting Firms

Nelson et al I have a client that worked in QC and ON (before moving to the US) and had >1K CPP/QPP overpayment. Overpayment claimed on T1 and subsequent CRA reassesment reduced refund by this same amount and suggested that the overpayment be claimed on the TP1. Tax software did not allocate this ho...

Thanks

But the FMV of the principal resiedence must be declared with the T! that declares departure, correct? If so, then what are the mechanics of this with a staggard spousal emigration?

Nelson et al When a person leaves for the US, establishes tax residency but leaves spouse behind to sell residence and allow child to finsh last year of high school, how is the deemed disposition of the primay residence handled? This person has severed all possible ties and has already bought a home...

Thanks

Clinton struggled with the word "is" - they still do. Obama is not a VP candidate like they say he "is".

Dont care for either of them. Thats beyond this board though

I intend to do both but I needed to clarify the possibility of a carryforward even though the interest was paid during non-residency. I could not find anything that addressed that scenario.
Thanks

Loans made before departure through the CDN gov. He never informed me of their existence the last three years despite my query. Now the he has returned, I can either amend the US return or use them as carryforwards in Canada (if possible). I would prefer to do the later based on %tax savings.

Client returned to Canada after a 3 year absence as a non-resident. Can the student loan interest in the 3 previous years be used as a carry forward?

thanks in advance

[quote="nelsona"]Indeed the ITIN unit has moved. When the poster would look for the adress of the ITIN Unit this would become evident. The method I outlined (e-file with OL form) worked until this season, I guess. my apologies.[/quote] The new rule hasn't been implemented with much publici...

If you are in CA and file a return as a non resident there, you will have to report RRSP earnings as a part of total worldwide income. If you files a as a CA resident, the RRSP earnings are taxable

[quote="nelsona"]Yes and no. The 'electronic signature' probably won't be accepted. However, this is solved buy submitting a paper signature. Your software will spit out the required form, 8453-OL, which you then send in. It is always a good practice to write to the INIT Unit in Pennsylvan...

You can use the ITIN
http://www.irs.gov/faqs/faq7-2.html

Since you generally cannot efile a 1040NR, these programs do not always support the forms

[quote="Nam"]We are planning to move back to Canada this year after being in US for about 3 years on H1B. My concern is the condo we bought in US for about 1 and half year ago. Since the housing market is not so great these days (due to sub-prime mortgage), we thought it would be better to...

Nelson is right about the documentation. Additionally, in the event that any individual or department in the IRS wishes to argue your filing, the issue can be taken to appeals or referred to the Taxpayer Advocate which is akin to the new Canadian Taxpayers Ombudsman's office. Taxpayers have wide lat...