Search found 7 matches
- Wed Aug 23, 2017 5:03 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Expat Owner Financing
- Replies: 0
- Views: 3803
US Expat Owner Financing
Hello .. US Citizen living in Canada is selling residence in USA used as secondary residence. Someone is interested in said house but would like for me to owner finance. What would be the tax implications of owner financing versus outright sale. As a US citizen in Canada could I even do that? Income...
- Mon Jan 02, 2017 5:43 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Oh, Oh ... not sure what to do .. US Residence
- Replies: 6
- Views: 2859
I am not certain why you are saying Form 1135 would need to be filed? The form info mentions .. Foreign Investment Property that must be included on Form 1135 includes ... blah, blah which is not applicable .. but then mentions real estate situated outside Canada (unless mainly held for personal use...
- Mon Jan 02, 2017 1:25 am
- Forum: Canada / United States Tax & Accounting
- Topic: Oh, Oh ... not sure what to do .. US Residence
- Replies: 6
- Views: 2859
- Sun Jan 01, 2017 7:42 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Oh, Oh ... not sure what to do .. US Residence
- Replies: 6
- Views: 2859
- Sun Jan 01, 2017 7:33 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Oh, Oh ... not sure what to do .. US Residence
- Replies: 6
- Views: 2859
Oh, Oh ... not sure what to do .. US Residence
My husband moved to Canada in 2005. He has a house in US that was not sold at the time, didn't realize it could be an issue. He wants to sell in 2017 and I am now reading that the house should have been addressed long ago - with CRA. The only thing to show Fair Market Value when he moved was the tax...
- Thu Feb 19, 2015 10:54 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Basic Question I Can't Find the Answer To ..
- Replies: 2
- Views: 1876
They are deducting US Federal Income Tax from his pension. 2013 was the first year he started collecting his pension ... the taxes he paid I took as a foreign tax credit on the Canadian return and we ended up paying nothing to Canada. This didn't make sense to me and I called Revenue Canada and they...
- Thu Feb 19, 2015 7:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Basic Question I Can't Find the Answer To ..
- Replies: 2
- Views: 1876
Basic Question I Can't Find the Answer To ..
Hello: Husband is in Canada with me and started to file 1040.s last year in the USA. Because I got lost in the paperwork we opted to file him MFS because time was running out. Now that I have time I think I will amend and change to MFJ to get some of the money back plus it will be to our advantage t...