1099-b

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

1099-b

Post by jade2010 »

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
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

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. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
jade2010
Posts: 19
Joined: Thu Mar 11, 2010 8:22 pm

Post by jade2010 »

What is 8891? I never filled out one before.
nelsona
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

I guess you need to do some reading... and back-filing.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
jade2010
Posts: 19
Joined: Thu Mar 11, 2010 8:22 pm

Post by jade2010 »

Where can I find this info, I guess on IRS?
nelsona
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Um gee, do you think maybe this site has all the info you need?
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
jade2010
Posts: 19
Joined: Thu Mar 11, 2010 8:22 pm

Post by jade2010 »

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 »

I found the answer, my accountant is right.
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