Tax implication of US citizen with investment property

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yankee_canuck
Posts: 3
Joined: Thu Oct 24, 2013 2:11 pm

Tax implication of US citizen with investment property

Post by yankee_canuck »

Hello,

I have investment property which generates positive cash flow and potential capital gain longer term. I'm considering transferring deed from US LLC to US citizen and relocating to Canada. I know need to file US tax return in Canada. But was curious about the tax implications of having investment property in personal name instead of LLC. Any insights on this would be greatly appreciated.

Thank you in advance.

yankee_canuck.
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nelsona
Posts: 18675
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Pleaase post in the tax forum, this is the immigration forum.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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mohsin123
Posts: 1
Joined: Mon Oct 28, 2013 3:21 am

Mohsin

Post by mohsin123 »

I have investment property which generates positive cash flow and potential capital gain longer term. I'm considering transferring deed from US LLC to US citizen and relocating to Canada. I know need to file US tax return in Canada. But was curious about the tax implications of having investment property in personal name instead of LLC. Any insights on this would be greatly appreciated.
Mohsin
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nelsona
Posts: 18675
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Tax forum please.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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