Search found 4 matches
- Sun Apr 17, 2022 12:55 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Property Valuation
- Replies: 5
- Views: 6959
Re: Property Valuation
There is two rental properties. One was the home before leaving, and one was rented generally. Yup - put the date when they departed Canada. Any idea re: do I have to fill in an election with the 1040NR to bump up the cost values to FMV on departure date I guess for both of them? Or is this unnecess...
- Sat Apr 16, 2022 7:03 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Property Valuation
- Replies: 5
- Views: 6959
Property Valuation
Hello,
If ceasing residency in Canada, but didnt meet the SPT test in US, so Non resident in US.(1040NR)
Have rental property - do we have to file election with 1040NR return , saying the value of the property is now increased to the the FMV?
If ceasing residency in Canada, but didnt meet the SPT test in US, so Non resident in US.(1040NR)
Have rental property - do we have to file election with 1040NR return , saying the value of the property is now increased to the the FMV?
- Fri Apr 15, 2022 7:23 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Foreign Tax Credit Question
- Replies: 0
- Views: 57070
Foreign Tax Credit Question
Hey there- doing the 2021 US Tax return (US Citizen), but resident of Australia. Australian year end is Jul 2020—30 Jun 2021 US is January 1, 2021 - December 2021. When doing the US return, I presume I have to manually calculate the income on the calendar year basis (based on Paystubs etc). But how ...
- Sat Mar 21, 2020 6:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Tuition Question?
- Replies: 3
- Views: 2524
Tuition Question?
Hey, hope everyone is staying safe. Question for ya'll. Left California in July of 2019 and went to Canada. Filing US as a resident and Canadian as part year in. Ended getting a scholarship and a tuition slip in Canada. Question is how to report this in the US. Do we pick up both the scholarship inc...