TFSA Taxes for US Citizens in Canada: What the IRS Requires
US citizens generally must report taxable income earned inside a Canadian Tax-Free Savings Account (TFSA) on Form 1040, even though Canada treats it as tax-free. Interest, dividends, and realized gains may be taxable, while FBAR, FATCA, PFIC, or foreign trust reporting may also apply. A Tax-Free Savings Account (TFSA) is one of Canada’s most popular […]
