Could you tell me where on the form I would enter the capital loss.
Looking at the form, I see nowhere where it identifies a capital loss unless it's line: 10d (capital gains) where I would put in a negative number?
Thx.
Collapsed my CDN RRSP - now what?
Moderator: Mark T Serbinski CA CPA
With your help of course, I'm pretty sure I've got the 8891 filled in correctly for 2004 and 2005.
However, I'm still struggling with the 3520 form required for 2003, as I just don't see any section where I would have to fill in information except for the first page.
As it would be the first year I would be filling out a form disclosing the account (and NOT deferring tax in the account), I would put in: initial return (9a), for an: individual (9b).
Apart from putting in the info on me (section 1) and the info on the Canadian broker (section 2), I see no further infomation on my RRSP that would be needed (ie: it was in 2 stocks at this time with no dividends, no interests, etc).
Unlike the 8891, I don't even see where I say that I DO NOT want to defer tax.
Is this correct in that just filling in the first page makes sense in my case?
Thx.
However, I'm still struggling with the 3520 form required for 2003, as I just don't see any section where I would have to fill in information except for the first page.
As it would be the first year I would be filling out a form disclosing the account (and NOT deferring tax in the account), I would put in: initial return (9a), for an: individual (9b).
Apart from putting in the info on me (section 1) and the info on the Canadian broker (section 2), I see no further infomation on my RRSP that would be needed (ie: it was in 2 stocks at this time with no dividends, no interests, etc).
Unlike the 8891, I don't even see where I say that I DO NOT want to defer tax.
Is this correct in that just filling in the first page makes sense in my case?
Thx.
Unfortuneatly, as read in this forum + grasmick's history, 3520 is extremely difficult to fill out.
Neither forum explains how to fill it out in my situation (not taking advantage of the rrsp treaty with no income or dividends) and I have to suppose that there is absolutely no one on this forum who knows how to fill in the 3520 form when not taking advantage of the treaty.
This must be the case as I - like others - help people fully on computer forums, showing them the steps completely, as they're confused. I'm sure someone would have helped me completely here if they'd known how.
One can only read the IRS notices, form instructions, publications, etc. so many times before just doing it.
So, fyi, right, wrong, fine, jail - so be it.
Line 1 - info on me.
Line 2 - broker in Canada RRSP was with.
Line 3 - did foreign trust assign US agent - NO
Part 2 - line 21 - CA, CA, date RRSP created.
Part 2 - line 23 - FMV on 12/31/2003.
Thanks to all for the valuable info on the 8891 form though.
Neither forum explains how to fill it out in my situation (not taking advantage of the rrsp treaty with no income or dividends) and I have to suppose that there is absolutely no one on this forum who knows how to fill in the 3520 form when not taking advantage of the treaty.
This must be the case as I - like others - help people fully on computer forums, showing them the steps completely, as they're confused. I'm sure someone would have helped me completely here if they'd known how.
One can only read the IRS notices, form instructions, publications, etc. so many times before just doing it.
So, fyi, right, wrong, fine, jail - so be it.
Line 1 - info on me.
Line 2 - broker in Canada RRSP was with.
Line 3 - did foreign trust assign US agent - NO
Part 2 - line 21 - CA, CA, date RRSP created.
Part 2 - line 23 - FMV on 12/31/2003.
Thanks to all for the valuable info on the 8891 form though.