Didn't properly dispose of investments before leaving Canada

[configuration]

Hi,
I'm worried that I screwed something up big time. I emigrated from Canada to the US in November 2012 (became a US permanent resident at that time). I did not dispose of my non-registered investments in Canada at that time. They continue to be held in my trading account with TD Waterhouse. I am now in the process of moving them to my US broker.

I now understand that I was deemed to hae disposed of these investments on the day I left Canada, so must pay capital gains etc on them to the CRA. But I also read that the IRS will consider the cost base of these shares to be as per the date of acquisition. Is that correct? If so, is there anything I can do, or am I just liable for double taxation at some point? I am happy to sell these shares immediately, or keep them, either way to try to minimize the tax. Please let me know if my reading is correct.

[nelsona]

IRS wil laccept the deemed disposition price as your new cost basis. You must do this for all investemtns, not just pick and choose.

This is covered under IRS REv Proc 2010-19.

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Thanks nelsona. Very relieved to hear that!