Tax implications of transfers in-kind?
Moderator: Mark T Serbinski CA CPA
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- Posts: 10
- Joined: Sun Mar 13, 2016 5:25 pm
Tax implications of transfers in-kind?
Are there any IRS tax implications with a transfer in-kind of securities held in a Canadian investment account to an American investment account?
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- Posts: 10
- Joined: Sun Mar 13, 2016 5:25 pm
Then, as I said, "Only your deemed disposition (coupled with decision to invoke the treaty) will change the cost basis for IRS purposes".
So your investments retain their cost basis. And if they are sold while you are a US tax resident (or claim to be one), you will owe tax on the entire gain.
Your TFSA should be collapsed before leaving in any event.
So your investments retain their cost basis. And if they are sold while you are a US tax resident (or claim to be one), you will owe tax on the entire gain.
Your TFSA should be collapsed before leaving in any event.
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