sell a pfic but less than 5k, which rule to follow?

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
tony
Posts: 97
Joined: Tue Oct 18, 2016 8:50 pm

sell a pfic but less than 5k, which rule to follow?

Post by tony »

Since <5k no need 8621 reporting, how to calculate the tax?
Does it follow standard long term gain? or shall i use pfic default rule 1291 sec when no reporting? assuming invested in long term.

thanks
tony
Posts: 97
Joined: Tue Oct 18, 2016 8:50 pm

Not RRSP nor RESP, just foreign mutual fund.

Post by tony »

forget to mention
Post Reply