Selling a rental property to buy another one
Moderator: Mark T Serbinski CA CPA
Selling a rental property to buy another one
I would like to know if I have to pay taxes if I sell a rental property in Canada and invest everything buying another rental property. Are any other options?
Canada does not have the US-style method of allowing one to roll over investement propert proceeds from one place to another without incurring tax.
For US tax purposes, you could do this as long as the properties are both in Canada, but since you are being atxed by Canada, you might as well be taxed by US and get the credit.
<i>nelsona non grata... and non pro</i>
For US tax purposes, you could do this as long as the properties are both in Canada, but since you are being atxed by Canada, you might as well be taxed by US and get the credit.
<i>nelsona non grata... and non pro</i>