Hi Nelson
Thanks for your response on taxes on house rentals. We have decided to sell the house instead and had two related questions. Again, I am not a US citizen, but am moving to the US and am a current Canadian PR.
1. What are the tax implications in Canada and US if I sell my home and then move to the US?
2. What are the tax implications if we chose to move to the US before our home can be sold?
Thanks!
Tax for house sale
Moderator: Mark T Serbinski CA CPA
1, None. Your home is sold tax free for both Cdn and US taxes.
2. Assuming it was never rented out, If sold in the first year after move, no Cdn tax. If sold within 3 years after move, no US tax.
2. Assuming it was never rented out, If sold in the first year after move, no Cdn tax. If sold within 3 years after move, no US tax.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing