I moved to US last year and sold my property in Canada right after I moved. I just got informed by CRA that I need to pay $2500 + interest penalty for filing T2091 form late.
I was not informed by my lawyer at the sale about this form... plus I only decided to stay in US permanently at the very end ...
Search found 9 matches
- Sun May 06, 2012 9:36 am
- Forum: Canada / United States Tax & Accounting
- Topic: need help for penalty of $2500 + int for late filing T2091
- Replies: 2
- Views: 2731
- Wed Mar 28, 2012 5:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to get an EIN for a trust when you live in Canada - easy
- Replies: 6
- Views: 8482
- Wed Mar 28, 2012 4:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to get an EIN for a trust when you live in Canada - easy
- Replies: 6
- Views: 8482
I called the number 267-941-1099 to check the EIN number of my banks, but they asked for the address of the bank, which I cannot find on internet.
I use RBC Investment for RRSP and RESP and TD Canada Trust for TSFA. Can someone be kindly enough to provide me with the EIN you have already found out ...
I use RBC Investment for RRSP and RESP and TD Canada Trust for TSFA. Can someone be kindly enough to provide me with the EIN you have already found out ...
- Tue Mar 27, 2012 12:31 pm
- Forum: Canada / United States Tax & Accounting
- Topic: saling main residence in canada after moving to US
- Replies: 2
- Views: 2061
- Tue Mar 27, 2012 11:32 am
- Forum: Canada / United States Tax & Accounting
- Topic: saling main residence in canada after moving to US
- Replies: 2
- Views: 2061
saling main residence in canada after moving to US
I still have some question unclear, and I think it is better to start a new thread.
I moved to US in May 2011 and sold my main residence in Canada in August. Since I bought the place in July 2009, I don't qualify the 2-year-in-5-year exemption rule.
I sold my property at a cost 30K higher than the ...
I moved to US in May 2011 and sold my main residence in Canada in August. Since I bought the place in July 2009, I don't qualify the 2-year-in-5-year exemption rule.
I sold my property at a cost 30K higher than the ...
- Tue Mar 27, 2012 12:18 am
- Forum: Canada / United States Tax & Accounting
- Topic: question for capital gain of selling my houses in Canada etc
- Replies: 5
- Views: 3673
I am now trying to do my tax and just realized that I forgot to ask two questions.
1. For my principal residence sold in August, since by treaty, I don't have to pay any capital gain. Do I still need to report it to IRS? Which form should I use if I need to report it?
2. For the rental property I ...
1. For my principal residence sold in August, since by treaty, I don't have to pay any capital gain. Do I still need to report it to IRS? Which form should I use if I need to report it?
2. For the rental property I ...
- Sun Mar 25, 2012 9:18 pm
- Forum: Canada / United States Tax & Accounting
- Topic: question for capital gain of selling my houses in Canada etc
- Replies: 5
- Views: 3673
- Sat Mar 24, 2012 9:09 pm
- Forum: Canada / United States Tax & Accounting
- Topic: question for capital gain of selling my houses in Canada etc
- Replies: 5
- Views: 3673
Thanks a lot JGCA. I will go through the posts and try to find the information I need. What about the departure return? I didn't file it. What should I do now? I didn't know how long I was leaving until recently. What would be the result for me not filing the departure return and stay in US for a ...
- Sat Mar 24, 2012 4:59 pm
- Forum: Canada / United States Tax & Accounting
- Topic: question for capital gain of selling my houses in Canada etc
- Replies: 5
- Views: 3673
question for capital gain of selling my houses in Canada etc
This is the first time I am using this forum, and I am just throwing my questions here hoping someone can help me out.
I moved to NY on May 7, 2011 and I sold my Canadian properties right away following my move.
First of all, does the capital gain for US tax period start counting when I enter US or it starts counting when I obtain TN visa?
My second question is: I sold my main residence on August 2011, which I bought in July 2009. I checked the IRS rule saying that although I owned the property for 2 years, but I didn't live in it for 2 years (I moved to US before July 2011), so I am not eligible for capital gain exemption. However, My third question is:I purchased a new house this year in NY, is there way I can use my newly purchased home to offset the capital gain I have to pay?
My other rental property in Canada was sold in July 2011, which I used as primary residence from Feb. 2007 until July 2009 (purchased in Feb 2007). How do I calculate/convert this to the US capital gain by IRS rules?
Questiï½ï½Žã€€ï¼ƒï¼”: I used to to live in Quebec before I moved to NY. When I use my foreign tax credit for filing IRS, can I use both federal and provincial tax?
Thanks in advance!
I moved to NY on May 7, 2011 and I sold my Canadian properties right away following my move.
First of all, does the capital gain for US tax period start counting when I enter US or it starts counting when I obtain TN visa?
My second question is: I sold my main residence on August 2011, which I bought in July 2009. I checked the IRS rule saying that although I owned the property for 2 years, but I didn't live in it for 2 years (I moved to US before July 2011), so I am not eligible for capital gain exemption. However, My third question is:I purchased a new house this year in NY, is there way I can use my newly purchased home to offset the capital gain I have to pay?
My other rental property in Canada was sold in July 2011, which I used as primary residence from Feb. 2007 until July 2009 (purchased in Feb 2007). How do I calculate/convert this to the US capital gain by IRS rules?
Questiï½ï½Žã€€ï¼ƒï¼”: I used to to live in Quebec before I moved to NY. When I use my foreign tax credit for filing IRS, can I use both federal and provincial tax?
Thanks in advance!