This is a multi-part message in MIME format. ---------------------- multipart/alternative attachment question: If I buy a property in BC as a US citizen, may I rent it out? Eventually would plan to move to the property when job was lined up. cheers JXXXXXXXXXXXX seattle _________________________________________________________________ david ingram replies. Not a bad idea. Christine Louw of ReMAX Realty - http://www.christinelouw.com/ - can help you find the perfect house. Before you rent it out you need a Canadian Resident to take on teh roll of "Tax Agent" by signing a form NR6 for you. I can do that for you for a fee. You will find the forma and the responsibilities at: http://www.ccra-adrc.gc.ca/E/pbg/tf/nr6/nr6-00e.pdf After that, you will need to file a Canadian return under Section 216(4) to report the rental income. The same figures and a different depreciation figure are then entered on Schedule E of your US 1040. If you made a profit and paid tax to Canada, you will claimn the tax credit on your US return on schedule 1116. Good luck on your endeavours. David Ingram of the CEN-TA REALTY Group US / Canada / Mexico tax and working Visa Specialists US / Canada Real Estate Specialists 108-100 Park Royal South West Vancouver, BC, CANADA, V7T 1A2 (604) 980-0321 - Fax 913-9123 [email protected] www.centa.com www.david-ingram.com Disclaimer: This question has been answered without detailed information or consultation and is to be regarded only as general comment. Nothing in this message is or should be construed as advice in any particular circumstances. No contract exists between the reader and the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent and appropriately qualified legal practitioner or tax specialist in connection with personal or business affairs such as at www.centa.com. If you forward this message, this disclaimer must be included." Be ALERT, the world needs more "lerts" ---------------------- multipart/alternative attachment An HTML attachment was scrubbed... URL: http://www.centa.com/CEN-TAPEDE/centapede/attachments/2b845df8/attachment.htm ---------------------- multipart/alternative attachment--
