Schedule B, 1040 Line 8&9 for Canadian Green Card holder

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newliweds
Posts: 4
Joined: Fri Jan 27, 2012 10:27 pm

Schedule B, 1040 Line 8&9 for Canadian Green Card holder

Post by newliweds »

Hello, I am a Canadian Green Card holder working in California, I have GIC and RRSP (a little over 10k combined) in Canada, and I am trying to fill up form Schedule B. Part III is straight forward and I am also aware of form TDF90221 (FBAR) and form 8891 for RRSP.. But I am not too sure about part I and Part II since I won't be receiving any form 1099.

Should I leave it blank for Part I and II and enter 0 on Line 8a 8b 9a 9b of form 1040 ?

Thanks for any advices / suggestions.
JGCA
Posts: 754
Joined: Thu Nov 18, 2010 3:05 pm
Location: Montreal, QC Canada

Post by JGCA »

GC holder you are taxed as USC so all interest income is taxed by IRS all year, report teh interest on the 1040. For RRSP must fill in teh form 8891 to not ber taxed on accumulated growth in teh plan while you are in US otherwise that growth from time you left Canada is taxable in US also trf you r RRSP to TD brockerage who handle cross border and advise teh RRSP broker that you live in US now.
JG
nelsona
Posts: 18684
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

and on schedule B its yes to all three questions.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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