TN visa start 14 Nov. When start tax on worldwide income
Moderator: Mark T Serbinski CA CPA
TN visa start 14 Nov. When start tax on worldwide income
Definitely, my stay in US <183> 10k USD for that period in US. If I perform any transaction investment outside US, do I need to pay tax on capital gain for that period?
If you depart Canada on nov 14, you will of course have deemed disposition on all your world investments, based on that date. So it will be like you sold EVERYTHING on that date, and will pay gains tax on all those deemed sales.
Then if you sell between Nov 14 and the end of the year, you won't report the sale to anyone (since you will file a 1040NR), but the only portion that will be tax-free is the gain between Nov 14 and the day you sell, which should be miniscule.
Plus, you MUST tell your Cdn broker that you have moved by Nov 14.
Then if you sell between Nov 14 and the end of the year, you won't report the sale to anyone (since you will file a 1040NR), but the only portion that will be tax-free is the gain between Nov 14 and the day you sell, which should be miniscule.
Plus, you MUST tell your Cdn broker that you have moved by Nov 14.
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