Yes, I live in the US too. I file taxes as Canada as my tax home. US return I claim foreign tax credit and I pay state income tax.
Would capital gains on my property in the US be based on the appreciation from the year I became a PR in the US? What is the rate of taxation of capital gain?
Search found 2 matches
- Mon Mar 25, 2013 10:43 am
- Forum: Canada / United States Tax & Accounting
- Topic: Selling home in Canada
- Replies: 4
- Views: 2742
- Mon Mar 25, 2013 12:24 am
- Forum: Canada / United States Tax & Accounting
- Topic: Selling home in Canada
- Replies: 4
- Views: 2742
Selling home in Canada
I've been a US PR since 2007 and after moving to the US I kept my house in Canada. I also continue to work in Canada and commute and as per CRA am considered a factual resident for tax purposes and file yearly with Canada as my tax home. What will be my tax implications if I now want to sell my home...