Brokerage Account

[ratul2k14]

Hello,
I recently moved from the United States to Canada. I was on H1B visa in the USA and in Canada I am a PR. I was wondering what to do with my Brokerage account in the USA (I have Scottrade)? Can I keep it? How will the Taxes work then? I would like to hear from people who have moved from the states to Canada and what they did with their trading account?
Thanks
Ratul

 

[scylla]

My husband kept his US trading account. You'll of course have to declare any earnings in that account in your Canadian income tax returns. As an American, you are obligated to file taxes even if you aren't living in the US. So you'll be filing both US and Canadian taxes (however this has nothing to do with the fact you have a brokerage account, this is US income tax law).

 

[ratul2k14]

I am not an American I was working in the USA on a Work Visa.

 

[scylla]

Ah - sorry. Missed that.

In that case I'm not certain...