Sorry if I'm unclear. Here is a more complete summary...
I moved to US in 2016 and did departure tax from Canada with a net loss overall, but contained a net gain on a specific Canadian mutual fund. From 2017 on I'm considered a US resident for tax reasons. In 2017 I sold the Canadian mutual fund ...
Search found 3 matches
- Tue Apr 09, 2019 3:11 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Net loss between countries
- Replies: 5
- Views: 2709
- Tue Apr 02, 2019 11:37 am
- Forum: Canada / United States Tax & Accounting
- Topic: Net loss between countries
- Replies: 5
- Views: 2709
Re: Net loss between countries
thanks @nelsona! just to clarify - you're saying I should only report the gain via US taxes directly (using either original cost basis or deemed disposition, as applicable) and not via Canada taxes with a US tax credit right?
- Mon Mar 18, 2019 11:32 am
- Forum: Canada / United States Tax & Accounting
- Topic: Net loss between countries
- Replies: 5
- Views: 2709
Net loss between countries
I emigrated to US and have a net loss in Canada after paying departure tax. Is there any way to recognize this net loss against future gains in US?
For example, I sold a mutual fund that was part of the emigrated departure tax that has a capital gain... can I use that previous net loss to offset ...
For example, I sold a mutual fund that was part of the emigrated departure tax that has a capital gain... can I use that previous net loss to offset ...