Live cross-border tax and investment Q&A – Episode 19

15 October 22
Crossing the 49th Podcast

On episode #19 of Crossing the 49th Podcast we walk through some live cross-border tax and investment questions.


Topics discussed include:

0:00 Intro
5:24 US pensions and foreign tax credits
9:37 Claiming mortgage interest deduction
15:15 Inherited IRA and RRSP
17:19 US person and TFSAs in Canada
20:28 Re-adjust basis on investments after moving back to Canada
23:51 RRSP and IRAs for American in Canada
25:49 Departure tax and revaluation of investment cost basis
29:15 Inherited TOD account from the US (T1135 and T1142)
33:42 How to do my own cross-border tax returns
36:36 Sale of US property 8288 forms and withholdings
39:45 Selling house in Arizona and moving to Canada (foreign exchange conversion)
44:35 How to draw down investments as a US person living in Canada (401k, IRA, ROTH, investments)
47:06 Can I keep all my investments in the US
48:04 How to renew an expired ITIN
50:33 Taking CPP and/or US social security
51:55 List of comprehensive cross-border tax resources
55:03 Sell US investments before moving to Canada?
1:06:40 8833s and treaty election under Article XIII (7)
1:16:08 Thanks you for joining!

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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 Tax and financial planning rules change from year to year and the information contained within may be outdated.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.

Phil Hogan, CPA, CA, CPA (Colorado)

Phil Hogan is a Canadian and US CPA working with clients throughout Canada and the US. Phil advises on cross border tax and financial planning matters. Phil can be reached at or via telephone at 250-661-9417. You can also read more about Phil at

This commentary reflects the personal opinions, viewpoints and analyses of the Beacon Hill Wealth Management Ltd. partner providing such comments, and should not be regarded as a description of advisory services provided by Beacon Hill Wealth Management Ltd. or performance returns of any Beacon Hill Wealth Management Ltd. client. The views reflected in the commentary are subject to change at any time without notice. Nothing in this commentary constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Beacon Hill Wealth Management Ltd. manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results. Any discussion about taxation is for educational purposes only and should not be viewed as professional advice. Consult your tax professional for tax advice on your particular situation.

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