Contact UsHow will IRS/FTB tax RRIF accrued gain in the year when Green card holders move to California?
We have had our RRSP since 2000. In 2017 we received a Green card. We are supposed to move to California (we still live in Canada and file as U.S. non-resident). Just before we received our Green cards we did a step-up of the cost base of our RRSP; we changed it to cash and after that we bought new funds.
When we move to California how will the IRS/FTB tax accrued gain of our RRIF (we are now 74 of age); since 2000, or since 2017 or is vise to do a new step-up of the cost base of our RRIF just before we move to California? We are guessing that calculating accrued gain in this matter will be very time consuming and costly? Any suggestions what is the best solution for the RRIF in this regard? Thank you.
When we move to California how will the IRS/FTB tax accrued gain of our RRIF (we are now 74 of age); since 2000, or since 2017 or is vise to do a new step-up of the cost base of our RRIF just before we move to California? We are guessing that calculating accrued gain in this matter will be very time consuming and costly? Any suggestions what is the best solution for the RRIF in this regard? Thank you.
