Serbinski Accounting Firms

Thank you Nelson and JGCA. I will calculate the depreciation privately for all the previous years. However, I do have one question. I bought the property in October 2002. It was a principal residence. In Feb 2005 all of us immigrated to Canada. In May 2005 we started renting it out. Since 2005 we ha...

Thanks Nelson. Regarding depreciation, I was under the impression that it's optional just like it's in Canada. So, till now I haven't depreciated the building cost at all. Now that you mentioned and I read about it I realize that I was doing this incorrectly, it's optional only in Canada but in USA ...

Thanks for the reply nelsona. I am glad that I was doing the right thing all along. One more question: Is it okay to keep changing the dependents on different years, for example, Year 1 I claim both daughters as dependents while my wife doesnt claim any, and Year 2 both of us claim 1 daughter each a...

Hello, My wife and I own a rental property in USA (in Texas). We are Canadian citizens and reside in Alberta, Canada. We do have a property manager in Texas who manages the rental property for us. As I understand every year both of us have to file separate 1040NR returns to report the rental income ...