Rev Proc 2010-19 with respect to Cdn deemed dispositions

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nelsona
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Rev Proc 2010-19 with respect to Cdn deemed dispositions

Post by nelsona »

http://www.irs.gov/irb/2010-13_IRB/ar08.html

This Rev Proc clarifies how Cdns who move to US can reduce their future US tax on investments that were subject to deemed dispostion when leaving Canada.

One important point is that ALL investments have to have the election made, not just those that went up in value. This could mean that an investment which lost so,e money while in canada, will actually be subject to more tax in US.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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