Search found 3 matches
- Mon Sep 11, 2017 2:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Short Term Rental Property
- Replies: 0
- Views: 3445
Short Term Rental Property
Hello there, Short-term rentals provide great advantages for owners, the first being flexibility. The owner can choose exactly when in each month their property will be made available to guests. Consequently, owners who want more of an opportunity to use their property often prefer to rent on a shor...
- Mon Sep 11, 2017 2:39 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting FMV of rental properties to IRS
- Replies: 5
- Views: 4336
Re: Reporting FMV of rental properties to IRS
[quote="paulto"]I moved to USA on TN visa on May 2010. I have three rental properties in Canada.
Property 1: bought as primary residence in July 2006 and change of use in February 2008 as rental property.
Property 2: bought as primary residence in June 2007 and change of use in July 2010 as rental property (just after moving to USA).
Property 3: bought as rental property in August 2007.
To report IRS, for capital gain and depreciation purpose,
Should I use FMV on May 2010 for all properties?
Or FMV at “change of use†for property 1 and original price for property 3?
http://letzoo.co.uk/landlords-that-acce ... rvices.php
[/quote]
Hello there,
Are these properties still available for rent?
Thanks in advance
Property 1: bought as primary residence in July 2006 and change of use in February 2008 as rental property.
Property 2: bought as primary residence in June 2007 and change of use in July 2010 as rental property (just after moving to USA).
Property 3: bought as rental property in August 2007.
To report IRS, for capital gain and depreciation purpose,
Should I use FMV on May 2010 for all properties?
Or FMV at “change of use†for property 1 and original price for property 3?
http://letzoo.co.uk/landlords-that-acce ... rvices.php
[/quote]
Hello there,
Are these properties still available for rent?
Thanks in advance
- Mon Sep 11, 2017 2:38 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Reporting FMV of rental properties to IRS
- Replies: 5
- Views: 4336
Re: Reporting FMV of rental properties to IRS
[quote="paulto"]I moved to USA on TN visa on May 2010. I have three rental properties in Canada.
Property 1: bought as primary residence in July 2006 and change of use in February 2008 as rental property.
Property 2: bought as primary residence in June 2007 and change of use in July 2010 as rental property (just after moving to USA).
Property 3: bought as rental property in August 2007.
To report IRS, for capital gain and depreciation purpose,
Should I use FMV on May 2010 for all properties?
Or FMV at “change of use†for property 1 and original price for property 3?
http://letzoo.co.uk/landlords-that-acce ... rvices.php[/quote]
Hello there,
Are these properties still available for rent?
Thanks in advance
Property 1: bought as primary residence in July 2006 and change of use in February 2008 as rental property.
Property 2: bought as primary residence in June 2007 and change of use in July 2010 as rental property (just after moving to USA).
Property 3: bought as rental property in August 2007.
To report IRS, for capital gain and depreciation purpose,
Should I use FMV on May 2010 for all properties?
Or FMV at “change of use†for property 1 and original price for property 3?
http://letzoo.co.uk/landlords-that-acce ... rvices.php[/quote]
Hello there,
Are these properties still available for rent?
Thanks in advance