What happens to Canadian capital loss carryover when moving to USA

[benjibz]

Hello. I am a Canadian citizen, however I am planning to immigrate to USA in Q3 of 2023. 

Unfortunately, I anticipate a significant capital loss (stocks) this year. My question is if I carry this forward in my 2022 CRA tax return, how can I use it future in USA?  Can I offset my capital gains in future in USA with this carry-forward capital loss in Canada ?

Thanks. 

[Anonymous_]

@pk

[pk · Accepted solution]

@benjibz , on a personal return, US taxes would be computed without regard to any other taxing authority situations.  Thus if you realized  losses or gains  in Canada during the 2022, the US return  ( post becoming a  tax resident in 2023 ) will count your world income for 2023 but not any earlier incomes/gains/losses or carryovers.   Suggest very strongly to consult with a tax professional familiar with US taxes and Canadian pass through situations before taking steps  that generate carryovers  not recognizable under US tax laws.

Is there more I can do for  you ?

pk