lanman2000 wrote:
> Hey there! I honestly don't remember the final outcome of what happened. I
> just remember having to write large checks to the IRS and CRA the year I
> sold my property in California. Ultimately, if you owe a bunch of tax that
> means you made good money on your sale. That said ...
Search found 2 matches
- Thu Oct 17, 2024 2:48 pm
- Forum: Canada / United States Tax & Accounting
- Topic: CCA on US Rental Property
- Replies: 20
- Views: 83801
- Thu Oct 17, 2024 2:37 pm
- Forum: Canada / United States Tax & Accounting
- Topic: CCA on US Rental Property
- Replies: 20
- Views: 83801
Re:
lanman2000 wrote:
> [quote="nelsona"]You should depreciate in Canada. no
> question.[/quote]
>
> Agreed. Just be aware that when you do sell the property you need to
> recapture the depreciation in both the us and Canada returns. This is when
> you will get hammered with double taxation because on ...
> [quote="nelsona"]You should depreciate in Canada. no
> question.[/quote]
>
> Agreed. Just be aware that when you do sell the property you need to
> recapture the depreciation in both the us and Canada returns. This is when
> you will get hammered with double taxation because on ...