Tax implication of US citizen with investment property

This forum deals with all aspects of immigration to Canada, landed immigrant status, work permits, etc.

Moderator: Ron Liberman

Post Reply
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.
nelsona
Posts: 16953
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.
I am taking my usual break from this site until May. Always too many tax-form specific questions at this time of year...
nelsona non grata. Non pro. Search previous posts. Happy Browsing :D
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
nelsona
Posts: 16953
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Tax forum please.
I am taking my usual break from this site until May. Always too many tax-form specific questions at this time of year...
nelsona non grata. Non pro. Search previous posts. Happy Browsing :D
Post Reply