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sikeDS-5535dbyMTL

Selling TFSA - when?

By sikeDS-5535dbyMTL in Canada

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sikeDS-5535dbyMTL Rookie

sikeDS-5535dbyMTL   36

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Crossing over to the US tomorrow. 

 

Sold off all my stocks yesterday in my TFSA and about to liquidate. Wondering if it made more sense to liquidate tomorrow (same day I transfer over).

 

Does anybody know? A bit confused if the same day liquidation causes issues with IRS?

Edited by sikeDS-5535dbyMTL
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EatBulaga Community Regular

EatBulaga   314

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Filed: AOS (apr) Timeline
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8 hours ago, sikeDS-5535dbyMTL said:

Crossing over to the US tomorrow. 

 

Sold off all my stocks yesterday in my TFSA and about to liquidate. Wondering if it made more sense to liquidate tomorrow (same day I transfer over).

 

Does anybody know? A bit confused if the same day liquidation causes issues with IRS?

From what I know about IRS and USCIS, they rarely communicate with each other.

IRS and CPB probably communicate more to catch high-valued tax evaders.

IRS doesn't really care when you liquidate as long as you file appropriately and pay the taxes.

CPB doesn't really care when you liquidate as long as you report any total value over 10K at US entry.

USCIS doesn't really care when you liquidate as long as you can prove support for anyone you sponsor for visa or green card.

 

Is there any reason why the day you liquidate will be of concern to the IRS, USCIS, or CPB?

Edited by EatBulaga
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