1099-b

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jade2010
Posts: 19
Joined: Thu Mar 11, 2010 8:22 pm

1099-b

Post by jade2010 » Fri Mar 12, 2010 3:35 am

I am an US resident who has RRSP in Canada. I received a 1099-B from one of my RRSP mutual fund which was switched from DSC version to front-end load within the same fund. There is no gain or loss from the switch. On the 1099-B only Box 2 shows $456 for the gross proceed, no other numbers on other boxes. How do I report this on my US tax return?

nelsona
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Location: Nowhere, man

Post by nelsona » Fri Mar 12, 2010 8:58 am

There really was no reason to issue you a 1099-B. Ignore it, especially if you are deferring taxation on your 8891 for this account.
Nelsona Non grata. Non pro. Search previous posts. Happy Browsing :D

jade2010
Posts: 19
Joined: Thu Mar 11, 2010 8:22 pm

Post by jade2010 » Fri Mar 12, 2010 11:48 am

What is 8891? I never filled out one before.

nelsona
Posts: 16184
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona » Fri Mar 12, 2010 12:14 pm

I guess you need to do some reading... and back-filing.
Nelsona Non grata. Non pro. Search previous posts. Happy Browsing :D

jade2010
Posts: 19
Joined: Thu Mar 11, 2010 8:22 pm

Post by jade2010 » Fri Mar 12, 2010 12:23 pm

Where can I find this info, I guess on IRS?

nelsona
Posts: 16184
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona » Fri Mar 12, 2010 12:27 pm

Um gee, do you think maybe this site has all the info you need?
Nelsona Non grata. Non pro. Search previous posts. Happy Browsing :D

jade2010
Posts: 19
Joined: Thu Mar 11, 2010 8:22 pm

Post by jade2010 » Wed Mar 31, 2010 1:48 am

I received a letter from my fund company about they canceled all my 1099-bs due to errors which is good news. But, my accountant told me, I need to fill out TD F 90-22.1 form-Report of foreign band and financial accounts, is this correct?

jade2010
Posts: 19
Joined: Thu Mar 11, 2010 8:22 pm

Post by jade2010 » Wed Mar 31, 2010 11:34 am

I found the answer, my accountant is right.

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