RSP/LIF/RIF Cost Basis from Employer Contributions

Cadman · Post by **Cadman** » Wed Mar 25, 2009 2:51 pm

No, I'm not.

I really appreciate all your help.

Thanks

Cadman · Post by **Cadman** » Thu Mar 26, 2009 6:38 am

[quote="nelsona"]Yes it is.

Are you familiar with how cost basis is determined?[/quote]

Not sure if this means interest earned is part of my cost basis or not. Just to clarify, the RRSP has allways been a CD investment.

I'm not familiar with how cost basis is determined.

Thanks.

nelsona · Post by **nelsona** » Thu Mar 26, 2009 7:15 am

cash (like GIC) has the same cost basis as market vlue. So the value on the day you became taxable is the cost basis and book value.

You will basically owe US tax on the growth in that account from when you became taxable in US.

Cadman · Post by **Cadman** » Thu Mar 26, 2009 8:08 am

Thanks nelsona,

On a somewhat related topic, now that my RRSP's have been converted to RRIF's and I'm receiving income, are these considered to be qualified or non-qualified plans?

nelsona · Post by **nelsona** » Sat Mar 28, 2009 2:38 am

Qualified or non-qualified for what?

Cadman · Post by **Cadman** » Sun Mar 29, 2009 7:35 am

My mistake.

Thanks for your help.