DIY’ers, use these forms under special circumstances. I do recommend getting help with some of them, at least the first time you do them.
| 3520, 3520A | (Get help with these!) Report TFSA's, RDSP's, RESP's. |
|---|---|
| 4562 | (Used with Schedule C, self employment) Depreciation (In Canada, Capital Cost Allowance) |
| 5471 | and associated Schedules (Get help with these!) US citizens file this if they own shares in a corporation that is "controlled" by US shareholders each owning at least 10%. |
| 8621 | (Get help with these!) Certain non-US mutual funds and ETF's, and certain corporations with passive income. (Handle these investments with care... they may taxed egregiously in the US). |
| 8829 | (Used with Schedule C, self-employment) Business use of home expenses |
| 8833 | (Get help with these!) Treaty-based return positions Used to avoid double taxation in a variety of scenarios, such as CPP/OAS income. |
| 8891 | RRSP... Used ONLY when filing under amnesty (the "Streamlined Procedure"). |
| 8938 | (Get help with these!) (Link: ***same article as FBAR article***) Like the FBAR, but filed directly to the IRS, if the value of your assets exceed higher thresholds. |
| 8949 | If you filed schedule D, use this form to itemize sales of securities. |
Important recommendations:
- If you are a DIY’er, save yourself a headache, and have someone look over your returns to find any glaring oversights. Let us do it at a fraction of the cost of an accountant!
- Do NOT file delinquent tax returns or FBARs with the IRS until you learn how to avoid penalties!