deemed disposition

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
lilylam
Posts: 11
Joined: Fri Jun 25, 2021 1:54 am

deemed disposition

Post by lilylam »

Hi, as to the deemed disposition, can I add deemed realtor and lawyer's fee on top of the fair market value in calculating the deemed capital gain/loss? Thanks!
nelsona
Posts: 18356
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: deemed disposition

Post by nelsona »

There is no "deemed disposition" on Cdn real estate, unless you are making a special election for investment property.

Are you asking about the cost of the evaluation? Since you are not selling, I believe that would simply be an expense against the properties income.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
nelsona
Posts: 18356
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: deemed disposition

Post by nelsona »

This appears not to be a cross-border question. It is a change of use issue. Lots of expert help on that in other forums.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
rhe707
Posts: 7
Joined: Fri Apr 21, 2023 8:07 pm

Re: deemed disposition

Post by rhe707 »

nelsona wrote:
> There is no "deemed disposition" on Cdn real estate, unless you
> are making a special election for investment property.
>
> Are you asking about the cost of the evaluation? Since you are not selling,
> I believe that would simply be an expense against the properties income.

Hi! May I know, what do you mean by "special election for investment property"??
Post Reply