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I'm pretty sure your cost bas[is] gets set as of the point of transfer in the US.
No.
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I'm pretty sure your cost bas[is] gets set as of the point of transfer in the US.
ACB = adjusted cost base up here, though basis is also used, but thanks for a) the correction and b) for informing us all how it actually works, whenever you get around to it - is the ACB to the giftee not FMV as of when the property's transferred? Or is it simply nil? That wouldn't make much sense.