In English, the present perfect (have + past participle) is used to describe present states, including states that persisted from the past to the present or the results of past actions. Thus, one cannot say, of a dead subject, he has dedicated, but one can say, I have lived here for ten years. However, French does not have an analogous tense. While the passé composé may appear to be constructed similarly, it is strictly used to describe the past. Similar logic applies to other temps composés, tenses that take auxiliary verbs.
To describe an action that continues to the present, one uses the present tense. Thus, from TLFi, we have the example:
Il était éveillé depuis six heures du matin. (He had been awake since six in the morning.)
However, literally, this is: He was awake since 6 AM. Note that this example describes a past state with the imparfait, not a present state (has been awake), but the concept still applies. Were it the present, we would write: Il est éveillé depuis six heures du matin.
In your example, I have lived in America my whole life, you are describing a state (have lived) that, absent other context, persists up to the present. Hence, in French, you should write something like:
J'habite aux États-Unis depuis toujours.
However, if you instead mean, Up until now, I lived in America my whole life, you should write something like:
Jusqu'aujourd'hui, j'ai habité aux États-Unis.