T2062, Canadian in USA selling ex-principal-residence

nelsona · Post by **nelsona** » Fri Jun 08, 2012 1:46 pm

This issue is long past.

Of course, when you and your parents sell the house, there will be the current issues to deal with, along with now owing tax to CRA and IRS on that house.

jennychang · Post by **jennychang** » Fri Jun 08, 2012 2:02 pm

yes, if we sell the property it will be current issue. But when we sold it, will the old long issue pop up? or just deal with the current issue is sufficient?

Thanks.

nelsona · Post by **nelsona** » Fri Jun 08, 2012 2:17 pm

What I said.

jennychang · Post by **jennychang** » Fri Jun 08, 2012 2:20 pm

What you recommend me to do now? or wait until I inheritate the house the other 50% from my parent(most likely)?

jennychang · Post by **jennychang** » Fri Jun 08, 2012 2:24 pm

Or let me say, in the future, I return to Canada as resident. Is it possible to let the old issue gone?

Additioanally, except the T1116, is there anything else of this issue will be current issue?

Thanks a lot.

nelsona · Post by **nelsona** » Fri Jun 08, 2012 3:24 pm

Since this was not your thread, I'm not so keen to answer repetitive questions. T1161 is DEAD!!!! for you. forget it please.

Read the rest of the thread, and you will see what will be the issue you face whan you sell or rent this place.