Serbinski Accounting Firms

Thanks, I see that now. However, isn't there a contradiction in Pub. 519 between what it says on page 8 (if you leave US taxation residency in 2013, your default last day of residency is Dec. 31, 2013, i.e. you file a full year 1040), and what is says on page 33 ("You must file Form 1040NR or F...

Thanks, Nelsona, I would rather not file 8833 if we don't have to. Just to be clear, even though my wife was not physically present in the US in 2013, since she was subject to US taxation as a US citizen, then whe was a US "resident" for tax purposes. i.e. taxation = residency. Is that rig...

The situation: My wife is a long time Canadian resident and citizen who renounced her US citizenship in Sept. 2013. We intend to file her last return (a full year 1040 plus 8854) in June. However, after reviewing all the previous posts on this subject, I am confused as to whether she needs to file f...

Note that you can still claim your wife as an exemption on 1040 line 6b, provided she has no US sourced gross income.

To go back to the original topic of this thread, which was how to report interest on Joint accounts for US tax pruposes. My wife is a USC living in Canada and I am a non-USC. Most of our investments are held jointly to avoid probate fees. We have been reporting the interest on joint accounts on my w...

eeyore: My wife (dual citizen) and I are in exactly the same position as you. For the sake of simplicity,we list all the accounts on her 8938 that are listed on her FBAR. For the accounts where all the holdings are attributed to me, and all the interest is reported on my Canadian Taxes, we simply ch...

I hope you noticed that this tax credit was only for tax year 2010. Schedule M no longer exists.

To return to the US as anything other than a visitor would require getting a green card, which I imagine is quite difficult after renouncing your US citizenship, so this may be an academic question. However, I imagine you would start fresh, and begin again to defer growth within your RRSP, just like...

For form 8938, the IRS instructions state that the exchange rate on the last day of the tax year must be used. Therfore, I have been using the Dec. 31 Treasury Dept. exchange rate for all amounts in my tax filings, since, for example, the amount of interest listed on my 1040 must be the same as that...

Since RRIFs are considered to be Foreign Trusts, it is more appropriately listed on form 8854 under line 9 "assests held by trusts you own".

It just means that if you have not been reporting your TFSA or RESP, your Canadian bank will not rat you out to the IRS under FATCA.

My wife is (or was) a dual US/Canadian citizen, who has lived in Canada for 26 years. She renounced her US citizenship last Sept., so we expect to file her last US return (a full year 1040) in June, 2014. Every year she filed an 8891 to DEFER (but not eliminate) US taxes on the growth within her RRS...

You mention 'non-deductible' contributions. Under what circumstances would a contribution to a Canadian RRSP be deductible in the US?

As I said, my wife is not a covered individual, so I doesn't matter what she puts in columns b and c. However, a lifelong US citizen living in Canada, who files an 8891 every year, is only DEFERRING tax on all the growth within the RRSP, not eliminating it. It would seem to me that a covered individ...

From previous posts the consensus seems to be that RRSPs should be reported on line 9: "assets held by trusts".