T2061A election?
Moderator: Mark T Serbinski CA CPA
T2061A election?
Hello if I am becoming a non-resident and think price for my house will go down in the future, is it wise to file T2061A (emigrant to report deemed disposition) now? Thanks!
No.
An elected deemed disposition is not recognized by US (as oopposed to forced deemed dispo for stocks etc, and there is no need to do this when you eventually sell your Cdn home, you will be able to make this choice then.
So, there is no reason to trigger this deemed sale now.
An elected deemed disposition is not recognized by US (as oopposed to forced deemed dispo for stocks etc, and there is no need to do this when you eventually sell your Cdn home, you will be able to make this choice then.
So, there is no reason to trigger this deemed sale now.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing 