Serbinski Accounting Firms

That makes sense. And for mutual funds I sold in 2015 before moving to the US (filing full-year), I would have to use the excess distribution method, since there was no deemed disposition?

I held a Canadian mutual fund since 2012, and did not make a QEF or M2M election at the time (since I was not a US person). I moved to the United States in 2015 and then sold the mutual funds. Am I stuck with using the excess distribution method for 2012-2015? The rules for retroactive election don ...

Thanks Nelson. The gains were my only income in Canada in 2015, so I owed no Canadian taxes after credits, I can't claim anything on 1116 and I think I'm stuck paying taxes on the full gain to the US.

Hi,

I am filing Married Filing Jointly for my first year in the US. I bought stocks in Canada in 2014 and sold them in 2015 before arriving in the United States. I've seen in various posts that I can use the value of the stock on January 1, 2015 as the cost basis, but how do I justify this to the ...