Search found 105 matches
- Wed May 30, 2012 5:40 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Part 3 of 8938
- Replies: 6
- Views: 6084
- Tue May 29, 2012 11:05 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Part 3 of 8938
- Replies: 6
- Views: 6084
I can't tell you what to do, but I can tell you what I did. I put each additional account on a separate 8938 continuation sheet. On Part III of that sheet, I put the tax item(s) for that one single account. I have one account that produces both interest and dividends, so for that account's Part III,...
- Tue May 29, 2012 10:39 pm
- Forum: Canada / United States Tax & Accounting
- Topic: USD Money Market Account & 8938
- Replies: 32
- Views: 16035
- Tue May 29, 2012 12:40 am
- Forum: Canada / United States Tax & Accounting
- Topic: IRS Filing extension
- Replies: 5
- Views: 3599
- Mon May 28, 2012 11:09 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRS Filing extension
- Replies: 5
- Views: 3599
- Mon May 28, 2012 10:52 pm
- Forum: Canada / United States Tax & Accounting
- Topic: USD Money Market Account & 8938
- Replies: 32
- Views: 16035
- Mon May 28, 2012 10:42 pm
- Forum: Canada / United States Tax & Accounting
- Topic: USD Money Market Account & 8938
- Replies: 32
- Views: 16035
@Mach7, about the money market instrument -- OK, even if it's not a bank account, it is an account, so it will still get listed in Part I of form 8938. As to whether it's Deposit or Custodial, I don't think that even the IRS will schmeise you for possibly getting that wrong, as they don't define tho...
- Mon May 28, 2012 10:09 pm
- Forum: Canada / United States Tax & Accounting
- Topic: USD Money Market Account & 8938
- Replies: 32
- Views: 16035
- Mon May 28, 2012 6:24 pm
- Forum: Canada / United States Tax & Accounting
- Topic: USD Money Market Account & 8938
- Replies: 32
- Views: 16035
For the MM instrument, you're lucky -- it's a bank account, not a mutual fund, so it's not a PFIC, and you can forget the 8621. For the shares, apparently you do not hold the actual share certificates. Your shares are held by Computershare in an *account* for you. That means you fill in Part I, beca...
- Mon May 28, 2012 5:45 pm
- Forum: Canada / United States Tax & Accounting
- Topic: USD Money Market Account & 8938
- Replies: 32
- Views: 16035
OK, good. It appears then that you really do have a money market bank-account. I checked the RBC and TD web sites and was surprised to see that in fact they do offer these things. TD explicitly mentioned the possibility of a US-dollar MM account; I didn't see that on RBC, but their site is not the b...
- Mon May 28, 2012 4:48 pm
- Forum: Canada / United States Tax & Accounting
- Topic: USD Money Market Account & 8938
- Replies: 32
- Views: 16035
Don't answer these questions if I'm invading your privacy too much: Specifically on the Canadian T3 form, what institution issued the T3? (1) Is it a bank? Is the MM instrument a bank account? (2) Is the MM instrument held inside an investment account where the investment account itself has an accou...
- Mon May 28, 2012 4:09 pm
- Forum: Canada / United States Tax & Accounting
- Topic: USD Money Market Account & 8938
- Replies: 32
- Views: 16035
Money market investment instruments are a quagmire. [From another thread] IRS Publication 17, at http://www.irs.gov/publications/p17/ch08.html says this: Money Market Funds Report amounts you receive from money market funds as dividend income. Money market funds are a type of mutual fund and should ...
- Mon May 28, 2012 3:47 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Finishing up US taxes. Need a clarification reg. the HBP?
- Replies: 16
- Views: 9555
- Mon May 28, 2012 3:36 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Are mutual fund distributions "dividends" on Sched
- Replies: 10
- Views: 6699
- Sun May 27, 2012 2:19 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Are mutual fund distributions "dividends" on Sched
- Replies: 10
- Views: 6699