Serbinski Accounting Firms

Sorry one more thing, does this election to deem dispose has negative US tax consequences?
Thanks.

Thank you Nelsona. In electing deemed disposed form T2061, its asking for adjusted cost base and FMV. What is the adjusted cost base in this case? Original purchase price? It is asking that include S3 with this form. Should we also include T2091 for getting the principal exemption for capital gain? ...

If filing “ Married separately”, what should I put for spouse SSN/ITIN? She doesn’t have one.
IRS website says if want to file MFS, Non-resident alien spouse should get a ITIN.

Thanks.

Thanks Nelsona. The property price has improved greatly in the years of principal residence. How can I make sure the FMV price at time of departure will be taken into account when we sell? I somehow thought reporting the change of use will make the FMV new cost base. I think the number of years+1 Me...

First year taxes with TN visa in US. I pass the presence test and spouse (on TD) doesn’t. She has no US income and no ITIN. Under what status can I file that doesn’t include her? I am aware of electing Married File Jointly and considering her as resident alien full year. Want to know if I have any o...

Can someone please let me know if there is a change in use of property from principal residence to rental, do we need to file forms reporting this change in that year’s tax return? Property was principal residence for whole time before change in use. I am getting conflicting answers from CRA agents ...

Hi, I have left Canada in 2019 and rented my property which was my principal residence till departure date. I have done appraisal for FMV at time of Departure. My question is that should I use schedule 3 and T2091 (principal residence exemption) for reporting the change in use and deemed disposition...

Thanks Nelsona,
We are having rent tax withheld monthly by an agent.
Can you please let me know if possible to file a dual status in US for me and my wife does not file in US since she had no US income? We both will file dep tax in Canada.
Thanks again.

Hi, I moved to US in June 2019 on TN visa. Spouse and child moved in Aug 2019. We have a rental property that was primary residence and RRSPs in Canada. We had a consultation with a cross-border accountant today and he mentioned that if not sure we are staying in US long term ( which we are not sure...