Proc. 2010-19 & Form 8833

cnytax · Post by **cnytax** » Tue Apr 24, 2012 1:51 pm

I'm filing Form 8833 and using Rev. 2010-19 to elect to take an adjusted
cost basis equal to FMV on the date of emmigration to the U.S. I did
perform a proper deemed disposition of property with Canadian Revenue Agency.

I plan on attaching to Form 8833 the list of stocks I provided to CRA for purposes of
deemed disposition.

Form 8883 asks for IRS provisions that are being overruled by the treaty based position.

Anybody know what those provisions might be? Do I need to fill out lines 2 & 3?

nelsona · Post by **nelsona** » Tue Apr 24, 2012 2:09 pm

Ignore that field. Your 8833 referencing rev proc 2010-19 is sufficient.

You should attach a copy of form T1243 that you submitted to CRA.

may I ask which 'regime(s)' you are filing under? 4.01, 4.02, 4.03 or 4.04

cnytax · Post by **cnytax** » Tue Apr 24, 2012 2:16 pm

I moved to U.S. in June 2007, so it would be .03 or .04. I had no ties prior to that with the U.S. so I'm assuming it would be .04 ("properties NOT taxable by the U.S.)

cnytax · Post by **cnytax** » Tue Apr 24, 2012 2:17 pm

But actually I'm not sure on that point.

cnytax · Post by **cnytax** » Tue Apr 24, 2012 2:29 pm

My thinking was that when I performed the deemed disposition, I was under CRA tax rules and had no current or prior ties with the U.S. so that my stocks were NOT taxable by the U.S. at that time. So am thinking .04 applies to me?

nelsona · Post by **nelsona** » Tue Apr 24, 2012 4:30 pm

If you left Canada before March 29 2010. Otherwise it is 4.02

cnytax · Post by **cnytax** » Tue Apr 24, 2012 4:36 pm

Thank you very much for your help.

cnytax · Post by **cnytax** » Tue Apr 30, 2013 1:10 pm

Just an update on what happened with my Form 8833 and Proc. 2010-19 submission.

Prretty anti-climatic. Got a form letter from the IRS stating they "reviewed my information and determined no action was necessary".

Just be forewarned that it took about many months to get that letter. I received a few interim letters stating "we have not yet completed our research"