US S-Corp ownership and K-1 treatment by CRA?

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
webcite_99
Posts: 46
Joined: Fri Feb 18, 2005 8:45 pm

US S-Corp ownership and K-1 treatment by CRA?

Post by webcite_99 » Tue Sep 25, 2007 2:37 pm

For a US citizen that is a shareholder of a US S-Corp who is living and resident in Canada, how does CRA treat K-1 income for tax purposes? Is it simply treated like all other ordinary US source income, or is there any double taxation or tax hit from CRA? If there is some extra tax hit, is there any advantage to owning a US C-Corp and/or US LLC over an S-Corp?

Post Reply