How to avoid PFICs well investing in ETFS?
So here's my situation, I'm a dual citizen living in Canada so I still have to pay US taxes. Because of this I'm wary to avoid PFICs. My question basically is what constitutes a PFIC.
So if I buy an ETF from a US based company on the Toronto stock exchange, and I buy it in CAD. Does that constitute a PFIC?
If it does I guess what I would have to do is convert my CAD into USD and buy that same ETF on a US stock exchange. I'm assuming that that obviously wouldn't constitute a PFIC.
I just want to make sure I'm doing everything right before I start buying. But at the same time I want to do it as efficiently as possible, so if I could buy in CAD that would be ideal.
Thanks for any help!
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