TFSA and Capital Gains. Please Help.(Canadian moved to USA)

[georgeata]

georgeata wrote:
> Hello,
>
> My name is a George and I am very grateful for all of the invaluable
> information found on the forum. I am in a situation myself and would really
> appreciate some guidance.
>
> Here is my situation:
>
> I am married to a US citizen, passed the Green card interview in April 2021
> and just entered San Diego, California In November 2021
> (just received my SSN and waiting for my Green Card in t). By doing
> some research I now realize that I am in trouble for taxes in my TFSA
> account, which is holding US and CAD stocks and is currently sitting with
> some unrealized capital gains. By doing research I now realize
> that I should have realized my gains and closed my TFSA before I entered
> the USA according to the IRS website, I am
> now considered a US tax resident. I would really appreciate some advice as
> to how to deal with my TFSA unrealized capital gains, which by the way are
> all long-term (still facing about 25% federal and state tax, which would be
> a substantial amount, as opposed to paying $0 tax had I liquidated TFSA 10
> days ago. I am extremely mad at myself for not doing this research and sold
> my TFSA stocks before I entered the USA). Any thoughts?

[nelsona]

you need to post this on the tax forum BUT MUCH SHORTER POST.