Search found 97 matches
- Wed May 16, 2018 1:51 pm
- Forum: Canada / United States Tax & Accounting
- Topic: what is the basis cost of PFIC?
- Replies: 7
- Views: 4261
what is the basis cost of PFIC?
I have had mutual funds long before I became a US resident. Suppose I had mutual fund A in 2010 and then came to US to work in 2016 and then sold that mutual fund in Jan 2, 2017. How to calculate the gain of the profit? what is the basis for that mutual fund cost? Is it the original price in 2010? O...
- Tue May 15, 2018 1:48 pm
- Forum: Canada / United States Tax & Accounting
- Topic: PFIC 8621
- Replies: 0
- Views: 8967
PFIC 8621
If all foreign mutual funds held values totaling < 25K, one needs no disclose 8621. 1. If don’t file 8621, it means I don’t need to pay any tax now with respect to those foreign mutual funds. Is it correct? 2. But, if those funds give dividends in some years. Then, one need to file 8621 on those...
- Thu Jan 25, 2018 11:59 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Capital gain reporting
- Replies: 16
- Views: 8829
- Tue Jan 23, 2018 4:25 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Capital gain reporting
- Replies: 16
- Views: 8829
Really apology for that. But, I do ask those questions based on my own situation that look similar to the thread. (if you combine my all other questions, that reeally point out my situation, and I also believe others will have similar degrees) I thought it will add variations to the given problem th...
- Tue Jan 23, 2018 12:09 am
- Forum: Canada / United States Tax & Accounting
- Topic: Capital gain reporting
- Replies: 16
- Views: 8829
Strategy to exit US
Nelsona,
Are these opinions correct?:
1. the best time to cease from US resident is after August?
2. from Aug - Dec, then one can distribute 401K?
3. Sell all profitting stocks?
Because, all profit will not be taxed in US and the new resident say Canada?
thanks
Are these opinions correct?:
1. the best time to cease from US resident is after August?
2. from Aug - Dec, then one can distribute 401K?
3. Sell all profitting stocks?
Because, all profit will not be taxed in US and the new resident say Canada?
thanks
- Mon Jan 22, 2018 11:52 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Obtaining US citizenship before moving back to Canada?
- Replies: 16
- Views: 8870
Nelsona, What is the advantages of having Green Card in US? My company offered me H1B visa from TN, but I refused it. What I know that, GC will last for 10 years! So, even if I move to a cheaper country e.g. singapore, I will still need to pay tax to US for that 10 years although I live in singapore...
- Mon Jan 22, 2018 11:47 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Inheritance...leave $$ in Canada???
- Replies: 5
- Views: 3343
- Mon Jan 22, 2018 11:43 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian working in US (TN) - Do I need to file CAN taxes?
- Replies: 2
- Views: 2032
- Wed May 17, 2017 12:04 am
- Forum: Canada / United States Tax & Accounting
- Topic: who need to file fincen 114
- Replies: 1
- Views: 1623
who need to file fincen 114
http://bsaefiling.fincen.treas.gov/main.html
if i file 1040NR in the US (came to US in Nov 2016), do I need to file that?
thanks
if i file 1040NR in the US (came to US in Nov 2016), do I need to file that?
thanks
- Wed May 10, 2017 4:05 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RSSP mutual fund with gain & loss
- Replies: 4
- Views: 2506
- Wed May 10, 2017 1:37 am
- Forum: Canada / United States Tax & Accounting
- Topic: additional programming job online
- Replies: 1
- Views: 1462
additional programming job online
if i have a job (doing programming online for a company overseas), and it is only 1 time job. What category shall i put it? (i received a payment)
1. is it a wage?
2. or a business income?
(i dont' intend to claim any business expense or anything)
thanks
1. is it a wage?
2. or a business income?
(i dont' intend to claim any business expense or anything)
thanks
- Wed May 10, 2017 1:13 am
- Forum: Canada / United States Tax & Accounting
- Topic: RSSP mutual fund with gain & loss
- Replies: 4
- Views: 2506
RSSP mutual fund with gain & loss
Even there is no transaction (buy / sell), the transaction summary shows : 1. gain. some times there is loss (negative) value. 2. saving bonus Questions: 1. In this case, is the gain considered unrealized or realized? 2. if it is unrealized, it means i don't need to include it in the tax? (to califo...
- Fri Apr 28, 2017 8:55 pm
- Forum: Canada / United States Tax & Accounting
- Topic: canadian resident 1040NR
- Replies: 3
- Views: 2233
thanks Nelsona, For spouse yes, clearly mentioned on the form itself. But, for dependant (qualifying child), it refers to pub 519. One of them is to live with you > 6months. But, we came to US since Nov. 1. that 6 months, is it defined in US location? 2. if I claim, and rejected, will it trigger an ...
- Thu Apr 27, 2017 11:15 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Help filling 3520 / 3520a for ING Direct TFSA Saving Account
- Replies: 13
- Views: 12269
- Thu Apr 27, 2017 11:07 pm
- Forum: Canada / United States Tax & Accounting
- Topic: canadian resident 1040NR
- Replies: 3
- Views: 2233
canadian resident 1040NR
1. can i claim basic exemption on my spouse? for 1040NR? assuming we're all arrived in US since Nov 2016? (all of us were canadian residents) 2. does it need to be prorated? based on the number of days in US? 2. what about my son? it looks like can't as it doesn't fulfill the requirement of stay 6 m...