T2061A election?

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groobi
Posts: 12
Joined: Thu Jun 23, 2016 9:32 pm

T2061A election?

Post by groobi »

Hello if I am becoming a non-resident and think price for my house will go down in the future, is it wise to file T2061A (emigrant to report deemed disposition) now? Thanks!
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nelsona
Posts: 18699
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

No.

An elected deemed disposition is not recognized by US (as oopposed to forced deemed dispo for stocks etc, and there is no need to do this when you eventually sell your Cdn home, you will be able to make this choice then.

So, there is no reason to trigger this deemed sale now.
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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groobi
Posts: 12
Joined: Thu Jun 23, 2016 9:32 pm

Post by groobi »

I see thank you very much!
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