Dual citizen inheriting half of residence

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
chewbacca
Posts: 25
Joined: Wed Dec 05, 2007 9:44 pm

Dual citizen inheriting half of residence

Post by chewbacca »

Hi,

1. I am a dual Canada/U.S. citizen residing in Florida. I am non-resident for Canadian tax purposes.

2. My brother and mother are Canadian citizens living in Canada.

3. My mother is going to leave her house to my brother and I, divided 50/50.

4. We would like to keep the house, even if we each own half with my brother and his wife living in it half the year and living in their other home in another part of Canada the other half. I will not be living in my mother's house at any time.

Is there any way that I as a U.S. and Canadian citizen can own half the house with my brother owning the other half with him and his wife living there half the year WITHOUT me being considered as becoming resident again for Canadian income tax purposes?

Thanks,
Peter
nelsona
Posts: 18363
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Having Cdn property doesn't make you a Cdn resident.

When you inherit, you will report to IRS that you received a gift fro ma foreign person.

After that, there is nothing to do in either country until you either sell your half, or the property is rented out.

Nothing changes for your tax residency.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
Post Reply