Filing form 8938

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
fbarhelp
Posts: 3
Joined: Sun Mar 17, 2019 11:14 pm

Filing form 8938

Post by fbarhelp »

Hi,

I have a few questions for filing form 8938.

I moved to the US last year. Before that, I held ETFs in a non-registered brokerage account and in a TFSA. Before I left Canada, I sold everything.

As such, I held both ETFs and cash in this account - ETFs before I entered the US, and cash afterwards. Do I need to report both? They also want to know about capital gains, dividends, etc. Am I going to get double taxed on this income?!

What is a "deposit account" vs a "custodial account"? What do they consider a foreign financial asset?

Thanks!
Post Reply