Search found 2 matches

by Littlest Hobo
Thu May 20, 2010 11:00 am
Forum: Canada / United States Tax & Accounting
Topic: In Canada since two months old
Replies: 3
Views: 2384

I am up to date on all my tax filings. I get a $250,000 capital gains exemption on the sale of my house, which is worth about $2 million. Unlike American citizens resident in the U.S., I cannot claim my mortgage interest. Plus I get penalized on the declining value of the U.S. dollar. When I bought ...
by Littlest Hobo
Wed May 19, 2010 7:06 pm
Forum: Canada / United States Tax & Accounting
Topic: In Canada since two months old
Replies: 3
Views: 2384

In Canada since two months old

I was born in the U.S. to Canadian parents who were studying there briefly. They brought me back to Canada when I was two months old. I am now 58 and recently discovered I am a U.S. tax citizen with obligations of about $135,000 in capital gains on my principle residence. I am single and have never ...