Not to hi-jack this thread, but I think this is related.
I am from Canada, and recently moved to the USA for work. I have money in a non-registered account with Questrade in Canada, and they will not let me hold it any more since I am not a resident. I need to move ~ 30,000 CAD from Canada to the USA, probably into an Interactive Brokers account. I may keep it in CAD or switch it to USD - I haven't decided.
My question is about income tax: will the US government try to tax me on this transfer of money into the USA, as if it is some sort of income? I think that I can figure out the transfer, but I don't want to get hit with some sort of tax on $30000 of "income". I have heard that transfers over $10000 need to be reported, but that it is just for money laundering and fraud reasons, not any sort of taxation.
I am already aware that the 2022 investment gains on this money will be taxed by both Canada and the US, and that I can somehow have one of these taxes refunded to avoid being double taxed.
Thanks!