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 » Fri Oct 25, 2013 11:46 am

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
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Location: Nowhere, man

Post by nelsona » Fri Oct 25, 2013 11:49 am

Pleaase post in the tax forum, this is the immigration forum.
Nelsona Non grata. Non pro. Search previous posts. Taking period between now and June off. Will only answer sporadically.

mohsin123
Posts: 1
Joined: Mon Oct 28, 2013 3:21 am

Mohsin

Post by mohsin123 » Mon Oct 28, 2013 3:27 am

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: 15811
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona » Mon Oct 28, 2013 9:45 am

Tax forum please.
Nelsona Non grata. Non pro. Search previous posts. Taking period between now and June off. Will only answer sporadically.

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