Hello, my wife and I moved back to Canada on July 7, 2022 after away for 7 years. We are confused about form T1135. One part says the cost amount of foreign properties held is the fair market value on residence date. And the form also says report maximum cost amount for the year. So, not sure which to report.
Also, we have US mutual funds, do we include the distributions (not from sales, but from dividends and capital gains) in the gross income column?
Do we need to include IRA and Roth IRA accounts as foreign properties?
Any help much appreciated. Many thanks in advance.
Cheers,
Bernard
