I Have a question, I filed 8891 for years since 2003, in this few years, I received 1099-Div; 1099-Int from RRSP accounts ( I think they are mutual funds companies). Since the amounts are really small, I think less than $100 totally. In order to avoid unnecessary trouble, I still report as income every year even though I know that is tax deferral when after I filed 8891. I called RRSP companies for few times and ask them stop to send me that, and I explain that I have elect the treaty, but they are not listen, what should I do ? I even included those income into year 2009 1040.
If they do not stop to send me those tax slip and if I am not report it, I think IRS might question about it, it will cost me lots of trouble. so, Next year, when I file my tax return, can I make a copy for those tax slip with explain attach to my 1040 ? thank you
RRSP ( 1099 Div 0r 1099-Int)
Moderator: Mark T Serbinski CA CPA
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- Posts: 6
- Joined: Sun Mar 31, 2013 12:58 pm
Hello, I was wondering if anyone is still having problems with this matter. Last year my RRSP broker sent 1099s with tax withheld and I contacted them so it would stop. This year they sent a 1099-Div without tax withheld. I contacted them again and they mention they are aware of the US-Canadian treaty (defer taxes on RRSPs) but they will continue to send 1099-DIVS for RRSPs. They mention it is up to me to file correctly with the IRS.
I am confused and fed up. If I am filing 8891s every year to defer taxes, but they are sending 1099s how with the IRS know these should be tax deferred? I know Nelson mentions you must file as specified on 8891, but I think the IRS computers will flag you for unreported 1099s if you follow this path.
I am thinking of cashing in my RRSPs and be done with this mess year after year. I look forward to feedback from other members on this issue.
I am confused and fed up. If I am filing 8891s every year to defer taxes, but they are sending 1099s how with the IRS know these should be tax deferred? I know Nelson mentions you must file as specified on 8891, but I think the IRS computers will flag you for unreported 1099s if you follow this path.
I am thinking of cashing in my RRSPs and be done with this mess year after year. I look forward to feedback from other members on this issue.