I am a permanent resident in PA, originally from Canada. My father passed away in 2015, and my sister and I received death benefits from his company's pension plan. The original amount was $45,383.45, with $11,345.86 withheld for non-resident tax, resulting in a net amount of $34,037.59. I received a Revenue Canada NR4 Statement for this income. My wife and I are filing jointly for 2015, with her grossing $19,500 and my business having a loss of $800. We currently expect a refund of $7,600 due to having two kids. However, applying the death benefits would result in owing over $1,000. Our tax preparer is unsure whether we need to claim these benefits. Do we need to claim this, and if so, what can we do about the amount of tax taken by the Canadian government? What forms or sections do we need to fill out?

September 9th, 2024

Your answer states I should file an 8582, then list a bunch of conditions for the Special exclusion. I meet all those. Then you write if I meet all those I should NOT file an 8582. So to be clear, I should NOT file an 8582?

November 13th, 2023

I am a W2 employee with a consulting company and work as a home-based therapist, using my home office for all administrative and managerial aspects of my work. Does this qualify as a 'Principal Place of Business,' and if so, can I claim all of my commuting miles and tolls, in addition to miles and tolls when driving between clients?

April 17th, 2023

I have $22k in rental property losses and qualify for all the conditions for the special real estate passive activity loss. Should I file Form 8858?

January 31st, 2023

Does a taxpayer with a Social Security Card that reads 'NOT VALID FOR EMPLOYMENT' and has two dependents qualify for the Earned Income Credit (EIC)?

November 18th, 2024