Serbinski Accounting Firms

Thank you for the reply. I started renting it out in January 2015 but the appraised value in Canadian dollars did not change from Nov. 2013 to Jan. 2015 (although in US dollars it dropped by $100k because of the exchange rate). Can I deduct the $100k loss on my 2015 US tax return (based on the ...

I moved to the US from Canada in Nov. 2013. I finally sold my former principal residence which is located in Toronto this month. I have have an appraisal for the house's value from Nov. 2013. How do I establish with the IRS the stepped up cost basis for the house from my departure date back in Nov ...