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!
Filing form 8938
Moderator: Mark T Serbinski CA CPA