# Completing US tax return - any advice?



## TooMuchCoffee

I hate dealing with US tax returns so much that I convince myself it's all okay .. until a deadline looms.

I'm a dual citizen (Canadian/U.S. I live in Canada) and have an extension to file my return to Oct.15.

I actually have an accountant - she helped me get "caught up" last year, but I just realized I have not heard from her in a while, and I need to get these forms in.

She completed them for me..June? July? A while ago. I was concerned that they were not quite right, and we got an extension. I'm still not convinced they're right, but I think I have to send _something_ in.

I might be able to fix them myself - my concern was that my return doesn't include a separate 8891 for each account.

How difficult would it be to fill this info in on TurboTax? Can I do this from Canada, to file a return in the U.S.? Is it possible to do it all online? I actually did my FBARs online, and it seemed to work.

(The issue is just that I don't know if the right info is in there. I do know that I don't owe any tax.I pay that here, in Canada). Help?


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## TooMuchCoffee

Well. TurboTax says I would have to pay for TurboTax with a U.S. credit card. And I do not have one (I haven't lived in the U.S. since I was a baby, more than 40 years ago. I have no way of getting a US credit card).


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## Bevdeforges

If a paid tax adviser has filled out the forms for you and signed the forms as your paid preparer, I'd say just send them in for now. The 8891 form only seems to apply to retirement accounts, not all accounts - and frankly if it's obvious from your tax returns that you owe no US taxes, chances are they won't really check the "informational" forms like the 8891's.

If you decide later on that you really really need to file additional 8891's you can always amend your returns. But you want to get the bulk of the return in on time (or in your case, by the extension date).
Cheers,
Bev


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## TooMuchCoffee

Thanks Bev. I looked again, and she did not sign the forms as my paid preparer (not sure what that means). I found the 8891 forms online and filled them in myself.

However, I don't have all the info easily at hand - I' m not exactly sure what the interest income was, and things like "total ordinary dividends, qualifiied dividends, etc. - I have no idea.

Do people really put all this info in there? What if I just put in the info I know? (not sure why I am asking, because at this point, that's all I can do). I also don't really get why it is relevant - I am decades away from retirement, and not taking money out of these plans.


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## quincy

You should be checking box 5 as annuitant (even though you will be receiving the funds in the future)and then you don't fill in anything below line 8. Line 8 is just the balance at the end of the year. If you never took a distribution from the fund, then lines 7 a and b will be 0.



TooMuchCoffee said:


> Thanks Bev. I looked again, and she did not sign the forms as my paid preparer (not sure what that means). I found the 8891 forms online and filled them in myself.
> 
> However, I don't have all the info easily at hand - I' m not exactly sure what the interest income was, and things like "total ordinary dividends, qualifiied dividends, etc. - I have no idea.
> 
> Do people really put all this info in there? What if I just put in the info I know? (not sure why I am asking, because at this point, that's all I can do). I also don't really get why it is relevant - I am decades away from retirement, and not taking money out of these plans.


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## Madonna

*Beneficiary*



quincy said:


> You should be checking box 5 as annuitant (even though you will be receiving the funds in the future)and then you don't fill in anything below line 8. Line 8 is just the balance at the end of the year. If you never took a distribution from the fund, then lines 7 a and b will be 0.


From everything I've seen regarding the 8891, the beneficiary box should be checked. If you check the Annuitant box you bypass the election to defer taxes (it's right on the form - "Complete only lines 7a, 7b and 8"). You're right about not filling in anything below line 8.


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## quincy

You're right, Madonna. Thanks for pointing that out.




Madonna said:


> From everything I've seen regarding the 8891, the beneficiary box should be checked. If you check the Annuitant box you bypass the election to defer taxes (it's right on the form - "Complete only lines 7a, 7b and 8"). You're right about not filling in anything below line 8.


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## TooMuchCoffee

I checked off "beneficiary" but I refuse to believe it makes any sense. I am the beneficiary AND the annuitant. I put the money in. Eventually when I retire, I will take the money out.


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## DavidMcKeegan

I also wanted to mention that if you are still unsure about your US Tax return, there is a special extension which would make your return due in December. This would give you time to have it reviewed by a tax company which specializes in expats.


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## TooMuchCoffee

Thanks, I did not know about that extension. It is also too late, as I have already send it in.

I'm REALLY sure I don't owe any tax. What I'm not sure about is if I have sent in the right info in the right way. I'm sort of hoping that if I did it wrong, they'll just tell me what part I did wrong and I'll correct it.

(what I'm expecting is to not hear anything at all. Last year I sent in a whole bunch of returns at the same time, and never heard anything back).


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## DavidMcKeegan

That sounds about right, it is doubtful they will contact you any further...Especially since you did not owe any tax!


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