Principal residence, losses, inherited IRA, FBARs and more – Episode 17

Principal residence, losses, inherited IRA, FBARs and more – Episode 17

On episode #17 of Crossing the 49th Podcast we discuss Principal residence, losses, inherited IRA, FBARs and more.

On another instalment of cross-border Q&A we discuss various cross-border tax and investment related issues.

I’m moving to Canada, should I sell my PR or rent it?

I had huge gains in 2021 that I paid taxes on, but now huge losses in 2022. What can I do?

I’ve inherited an IRA from my late mother, should I cash it out?

I failed to send in a US extension by the 15th of June, will my FBARs be penalized?

I was told by my accountant that I should only be taxed on my US dividends in Canada, but CRA reassessed my returns?

My corporation is receiving income from the US, do I need to file a US tax return?

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Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.