How do we report funds in US accounts which we use when we visit the US? For instance, let's say if we have 150k in US chequing accounts, and every time we visit the US (a few times a year), we use this fund. Max cost is higher than year-end cost...but what would be income/loss in this case?
To accurately answer your question, we would need more information. Please see the Canada Revenue Agency (CRA) information aboutQuestions and answers about Form T1135.
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