Serbinski Accounting Firms

Thank you for the clarification so now I understand that non US citizens get the benefit but US citizen Aliens or green card holders must report the gains to US and Canada. I now understand, thnak you.

Once you come to Canada and sell the US Stocks you owned when you left the US unless these gains were from US source income or business income from the US it was my understanding that they are no longer taxed by THe US only Canada has the right under treaty to tax capital gains once you are resident...

Thank you. It seems strange that in Canada you get a bump up in ACB and if you sell those mutual or shares in the future you report only the capital gain in Canada the US does not get any more tax on those gains this is a great way to shelter pregnant gains that you never have to pay tax on to the US.

What happens when one leave the US for Canada and you hold mutual funds and US stocks of publicaly traded companies in the US is there a deemed disposition at Market value in the US just like there is in Canada when yuu leave Canada and if not what value does one use as ACB for US tax filings includ...