Thanks Nelsona and sorry if I annoyed you with too many questions.
Maybe someone else can just clarify the following: What if the US dollars were earned or gifted in USD and then used to buy US securities? Is that also reportable?
Search found 3 matches
- Sat Feb 21, 2015 4:00 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Deemed Appreciation on US Cash for CRA reporting?
- Replies: 11
- Views: 9003
- Sat Feb 21, 2015 1:06 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Deemed Appreciation on US Cash for CRA reporting?
- Replies: 11
- Views: 9003
As a follow up question. now I am wondering about back year-filings. The last time that I made large purchases with US cash in 2011, which is expired (almost expired)? This year I had some USD big purchases too. As a practical matter, does it make most sense to: 1. Going forward: get this year right...
- Sat Feb 21, 2015 12:57 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Deemed Appreciation on US Cash for CRA reporting?
- Replies: 11
- Views: 9003
My situation is a bit more complicated than the original poster. Since moving from US to Canada I have kept US cash balances: sometimes small, sometimes large. The sources of the cash balances include: 1. currency exchange (Use CDN to purchase USD) 2. USD that moved to Canada with me 3. Earnings in ...