Search found 5 matches

by stagerdc
Tue Mar 27, 2007 10:56 am
Forum: Canada / United States Tax & Accounting
Topic: Capital Gains in Canada?
Replies: 5
Views: 4780

... should read AND the capital gain is less than US$ 250,000, right? So, two years out of five and less than $250,000 capital gains.

Can a 1031 transfer be done on move within Canada or does it have to be from Canada to the USA or completely within the USA. I suppose the issue will be finding a ...
by stagerdc
Tue Mar 27, 2007 10:51 am
Forum: Canada / United States Tax & Accounting
Topic: Capital Gains in Canada?
Replies: 5
Views: 4780

... or the capital gain on the Canadian sale must be less than the US$ 250,000 personal individual exemption. Sorry for multiple posts. I'm remembering bits and pieces as I type.
by stagerdc
Tue Mar 27, 2007 10:48 am
Forum: Canada / United States Tax & Accounting
Topic: Capital Gains in Canada?
Replies: 5
Views: 4780

So, in order to avoid capital gains in the USA on the sale of my home in Canada, I have to live in the Canadian home as my primary residence continuously for two of the past five years? Isn't that the American rule?
by stagerdc
Tue Mar 27, 2007 9:15 am
Forum: Canada / United States Tax & Accounting
Topic: Capital Gains in Canada?
Replies: 5
Views: 4780

Capital Gains in Canada?

It is my understanding that there is no capital gains tax when you sell your primary home residence in Canada. My question involves the length of time you have to live in this home in order to avoid paying capital gains when you sell your house.

I heard a spokesperson on a radio program say that ...
by stagerdc
Fri Feb 23, 2007 2:07 pm
Forum: Canada / United States Tax & Accounting
Topic: Reporting Canadian Interest Income on US Tax Return?
Replies: 1
Views: 2434

Reporting Canadian Interest Income on US Tax Return?

What is the correct method or form for a Canadian resident to report regular bank interest income earned in Canada on the US tax forms for people who are required to file a US and Canadian tax return?