I have permenant residience in Canada (work in Canada) and a vacation home in US. I have spent 88 days in the US so far this year about 60 the year before. Do I need to file a 8840?
Scott
Search found 3 matches
- Thu Nov 26, 2009 4:45 pm
- Forum: Canada / United States Tax & Accounting
- Topic: CDN citizen with vacation home in USA
- Replies: 1
- Views: 1776
- Thu Oct 30, 2008 3:40 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Citizens living in US, but working in Canada
- Replies: 3
- Views: 3197
Ditch the wife eh?????? That might cost me the house!! Ok so if I keep a full home in Alberta, I can only spend 6 months in the states at a time as a tourist? How long to I have to come back to CAN for? Or is it 6 months in one calander year? If the wife is able to get a job on a VISA in the hospita...
- Wed Oct 29, 2008 2:39 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Citizens living in US, but working in Canada
- Replies: 3
- Views: 3197
Canadian Citizens living in US, but working in Canada
I’ve read some interesting posts on this forums, I am hoping to get some information on my situation.
Background – I own a house in Alberta, I am a contractor that works shift work (~230+ days/year). My wife works part time in the hospital. We recently built a house in Montana and would like to move down there full time. My wife would not work and I would commute to work back in Alberta.
My biggest concern is income tax; can I sell my Alberta home and not have a permanent address in Canada and still get tax credit since my “Tax home†would still be where I work? Would I need to rent a place here still in Alberta for a permanent resident, or should I rent out my house instead of selling it? We would still keep our bank accounts and RRSP’s here in Alberta as we would move back one day.
Since the wife would not have any income but would spend +90% of the year in the US would there be any tax issues? Since here in Canada we file our tax form together (married) what would change, will she have to file a Canadian tax form if she no longer has residence her?
Also if we decide to sell the house and move back to Alberta one day (and maybe make a profit) what kind of taxes would we be looking at?
If there are any other issues or solutions that you guys can shed some light on I would sure appreciate it.
Thanks,
Scooter
Background – I own a house in Alberta, I am a contractor that works shift work (~230+ days/year). My wife works part time in the hospital. We recently built a house in Montana and would like to move down there full time. My wife would not work and I would commute to work back in Alberta.
My biggest concern is income tax; can I sell my Alberta home and not have a permanent address in Canada and still get tax credit since my “Tax home†would still be where I work? Would I need to rent a place here still in Alberta for a permanent resident, or should I rent out my house instead of selling it? We would still keep our bank accounts and RRSP’s here in Alberta as we would move back one day.
Since the wife would not have any income but would spend +90% of the year in the US would there be any tax issues? Since here in Canada we file our tax form together (married) what would change, will she have to file a Canadian tax form if she no longer has residence her?
Also if we decide to sell the house and move back to Alberta one day (and maybe make a profit) what kind of taxes would we be looking at?
If there are any other issues or solutions that you guys can shed some light on I would sure appreciate it.
Thanks,
Scooter