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New Member
posted Mar 29, 2022 3:03:02 PM

Foreign reporting T1135

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?

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1 Replies
Level 6
Mar 31, 2022 7:11:05 AM

To accurately answer your question, we would need more information. Please see the Canada Revenue Agency (CRA) information about Questions and answers about Form T1135.

 

For further information please Contact the CRA.

 

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