Serbinski Accounting Firms

Sorry I'm confused. I thought the treaty capped tax at 15%. I understand this is for periodic withdraws but I thought most brokers see even lump sum withdraws to fall under this definition. I'm considering doing this before leaving my job. If I still had USA employment income how would the tax on th...

After more reading I believe would use Schedule NEC with 1040NR to state the distribution and it would NOT be added onto my employment income and would NOT be taxable in michigan. Am I correct in this understanding? I also read elsewhere that you do not have to add all the 401k distribution to the R...

I have a few questions about the process. 1) I live in Canada and commute to Michigan for work, I file with 1040NR. Would the flat rate of 15% tax still apply or would distribution be added to my employment income and taxed at marginal rates? 2) I understand that a special RRSP contribution room wou...

Thank you for the info!

I can start a new thread if necessary but I was wondering if your dealing with ITIN renewals?

I could still file a USA tax return and claim back any over payment if I owed less than 15% correct?

Sorry to revive this, just wanted to make sure I understand. So if i had a $20k disbursement from my 401k I'd pay 15% to the USA ($3k). I then split it with my wife at $10k each. Are you saying I could only use 15% of $10K ($1.5k) and not what I actually paid to the USA ($3k) for the foreign tax cre...

Is this something we are going to need every year now? Or only if they request. This adds a lot of burden to someone like myself that works salary 100% in the USA and lives in Canada

Has this been added to the guide? I see now on the description for line 405:

If you paid taxes to the United States, attach your W-2 information slip, U.S. 1040 return, U.S tax account transcript, and any other supporting documents that apply.

Is this the guide your referring too?

Thank you for the info!

My intention is so balance the amount from the 401k and my and my wifes RRSP so that US taxes would be no more than my Canadian tax. Just need to do the math. Thanks again.

Thank you for the reply! We are both Canadian citizens. Do you know if the 401k is considered a defined contribution pension? I'm curious if I'd have to wait until 65 to take advantage of splitting

While a resident of Canada, are withdraws from a 401k plan considered eligible pension income for income splitting purposes?

I understand you include all world income for your spouse as well. What about spouses unemployment insurance payments?

nelsona, if i'm using my own spreadsheet of transactions to show the actual amount I received in Canadian funds, how do I back up that I'm allowed to do this. I'm being told by RevCan I am not.

Going through my old records I found this letter from the IRS stating that claiming a treaty position of article XXV(4) you are to use the married filing jointly exemption amount for the AMT calculation: Letter: http://i.imgur.com/cmP61p9.jpg Should I just send them form 6251 using this calculation ...

More info:
I used turbotax to do the 1040 PRO FORMA and the AMT did not trigger. I did file an 8833 explaining the treaty position. How do I communicate this back to the IRS? In writing or call?