RRSP reporting..flames9 can you help?

[Willswife 0]

Hi: I read your post where you stated that you were told you had to pay tax on the whole amount of the RRSP you cashed in when your US tax form was made out. I am having problems with mine,

did you really have to report the whole amount of the RRSP as income, and pay tax on the whole amount? I was under the impression, when RRSP was cashed in, then you only paid tax on the interest it gained from the day you arrived in the USA, until the day it was cashed in.

Thanks in advance for a reply. My tax preparer said I have to pay tax on the whole amount, which amounts to over $84,000.

[Flames9_RN 358]

To be honest I have no clue!! My inlaws accountant did my taxes when I cashed in my RRSP's. Their accountant being American, had never handled RRSP's before, so not sure if they did it right, or what they did!!

http://forums.serbinski.com/ lots of info on this site about RRSP's. ensure u do a search as the fellow that answers most of the questions, can get a bit grumpy if ya don't,lol also look for form 8891--which is the reporting of the rrsps to the IRS

Edited April 23, 2008 by flames9

[Willswife 0]

Hi: Thanks for your prompt reply. I'll try serbinski's website.