Canadian citizen owns home in Florida and rents it out

projectpete · Post by **projectpete** » Thu Dec 03, 2009 4:03 pm

Hello,

I am a canadian citizen living in canada and am starting to do some research on how to file my taxes, I own a home in Florida and have rented it out to US citizens for the entire 2009 calendar year.

Do I file a 1040NR or 1040NR-EZ? Also what do I claim on my canadian taxes?

Thanks

Pete

nelsona · Post by **nelsona** » Thu Dec 03, 2009 4:56 pm

I make no distinction between a 1040NR and a 1040NR-EZ. so I'll just say you file 1040NR, reporting the rental income and expenses on schedule E from 1040.

Your rental income and expeses for this property should be the same for your Cdn and US except that in US you MUST depreciate your property while for Cdn tax purposes this is optional.

So, if you have net income from this property, you will owe some US tax. You can use this tax on your Cdn return as a credit against your Cdn tax on that rental income.

projectpete · Post by **projectpete** » Thu Dec 10, 2009 3:38 pm

thanks nelsona

projectpete · Post by **projectpete** » Wed Jan 20, 2010 11:27 pm

is there any software to assist with filling out a 1040NR?

nelsona · Post by **nelsona** » Thu Jan 21, 2010 12:23 am

Not off the shelf.

projectpete · Post by **projectpete** » Thu Jan 21, 2010 10:44 pm

do I have to submit both a 1040 and 1040NR? Line 14 and 18 on the 1040NR ask for Schedule D and E from 1040.

thanks.

nelsona · Post by **nelsona** » Fri Jan 22, 2010 6:57 am

No you submit 1040NR with those schedules. It simply means that there is not a special schedule D or E for 1040NR.

projectpete · Post by **projectpete** » Mon Feb 08, 2010 12:38 pm

What physical address do I mail my 1040NR if my residence for rent is in Florida?

nelsona · Post by **nelsona** » Mon Feb 08, 2010 2:17 pm

These are mechanical questions.

projectpete · Post by **projectpete** » Tue Feb 09, 2010 8:52 am

Do I include my 1098 when I mail in my return?

also, about the address i tried to find it on the site but i will look again

nelsona · Post by **nelsona** » Tue Feb 09, 2010 9:51 am

Did you read my previous response?

projectpete · Post by **projectpete** » Tue Feb 09, 2010 1:38 pm

Am I elegible for the Standard deduction? If not what Itemized Deductions do I use for my rental property?

projectpete · Post by **projectpete** » Tue Feb 09, 2010 1:42 pm

I read on Pub 519 that I am not able to claim the standard deduction as I am a non-resident but if my house has been used solely as a rental property all year what itemized deductions to I use on Schedule A on Line 11 (Other expenses)?