Non-US Investing • Managing Tax Liability under Canadian Departure Tax

Questions around Departure tax for IRS side:
I record the value for the CRA to pay Canadian 2024 departure tax.
What happens in the US when I actually sell?
Do I show my Canadian 2024 tax return and those years are excluded from US tax?

Pretty sure that the US will ignore any departure tax paid on capital gains. Best thing to do is to actually sell. Plus you will probably want to change which funds/etfs/etc. that you own. So, sell before you depart and then rebuy once you become a US resident.

Statistics: Posted by Hyperborea — Tue Apr 23, 2024 3:49 am — Replies 1 — Views 205

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