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.
I want to convert some of my US IRAs to Roths for 2016 and 2017. It looks like I need to leave Canada and work for a US employer for those years if I don't want to be overly taxed on those conversions. Do I understand this correctly?
Correct. Converting or contributing funds to a Roth while a Cdb resident essentially "breaks" the Roth for Cdn tax purposes, making it taxable going forward.
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
yes, as long as none of the converted funds are left in the Roth.
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
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