BackInCanada (anonymous)

Hi there,

Love the site and the resources! I’m in a bit of a situation right now where I’m trying to figure out my tax situation from the U.S. standpoint. I want to make sure the IRS won’t come knocking on my door some odd years later demanding unpaid taxes!

Here are the relevant facts:

  • I am a Canadian citizen.
  • I never had a U.S. green card and was never considered a U.S. permanent resident. I was only in the U.S. under a work permit.
  • I worked in the U.S. from 2012 to 2016 and filed taxes for each of those years.
  • I left the U.S. in late November 2016 to go back to Canada.
  • In 2017, I had no income and was traveling the world. I sold some of my U.S. stocks that year also.
  • I am redeclaring my residency in Canada on Jan 15, 2018.
  • I still have U.S. capital assets (stock) which I do plan to keep indefinitely.
  • I do not plan to return to the U.S. anytime soon.
  • AFAIK, I am not subject to the expatriation tax, so my U.S. capital assets are not deemed sold when I left the U.S. or when I redeclare my Canadian residency. Is this correct? As such I am not subjected to U.S. taxes now nor when I do eventually sell these assets. I do expect that I’ll need to file a return for the stocks I sold in 2017 during my travels but those will be covered by my capital gains carryover. Should I file a termination of residency along with that as well?

    Thanks for your time and any insight!