I am a resident of Canada, US and Canada dual citizen, selling investment/vacation real estate located in US.
I understand there might be a withholding by IRS of part of proceeds since I am not a resident of US. I do file US tax returns.
Can anyone clarify that?
Also, would your answer be any different if I was only a Canadian citizen, as opposed to dual citizenship, or is residency the factor.
Thank you
Sale of US property
Moderator: Mark T Serbinski CA CPA
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As a citizen, you should be absolved of Withholding regardless of where you live. Why? You answered it yourself: you file taxes in US always. So, don't let anyone withhold if you don't want them to.
A non-US citizen, non-resident of US would have withholding under some circumstances.
A non-US citizen, non-resident of US would have withholding under some circumstances.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing