housing sale - moving to canada
Moderator: Mark T Serbinski CA CPA
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bigcityblue
- Posts: 13
- Joined: Mon Mar 13, 2006 8:41 pm
housing sale - moving to canada
My wife (American) is moving to Canada with me (Canadian). She owns a vacation property in the United States. If she sells it after we move to Canada, will she have to pay capital gains in the United States or Canada?
If she sells before she will pay gains only in uS.
If she sells after she will pay gains in US and in Canada, but in Canada the gains will only be based on increase in value post-arrival in Canada, very small, with a credit for the US tax paid on that small amount.
Not a big worry.
If she sells after she will pay gains in US and in Canada, but in Canada the gains will only be based on increase in value post-arrival in Canada, very small, with a credit for the US tax paid on that small amount.
Not a big worry.
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