Working in USA since 2023, what should I do with TFSA?

[brankd]

I moved to USA from Canada in Oct 2023, I have not disclosed any my Canadian bank and TFSA account to IRS because I was only in USA for less than 90 days in 2023.

Now I have been living here as tax resident whole year,
what should I do with my TFSA account which has more than 10k in it?
If I keep it, do I need to pay taxes here in USA on gains?
if I sell it, how can I avoid paying taxes to IRS or minimize it?

Please share your experience.

 

[Copingwithlife]

I moved to USA from Canada in Oct 2023, I have not disclosed any my Canadian bank and TFSA account to IRS because I was only in USA for less than 90 days in 2023.

Now I have been living here as tax resident whole year,
what should I do with my TFSA account which has more than 10k in it?
If I keep it, do I need to pay taxes here in USA on gains?
if I sell it, how can I avoid paying taxes to IRS or minimize it?

Please share your experience.

Get an accountant

It’s always amazing people go to the USA to work to make the big coin, then cheap out expecting free accounting advice

The IRS is already aware of your Canadian holdings . It’s 2024