Capital gains tax home sales
Posted date : Sep 14, 2023
In accordance with the U.S. tax code, you are required to disclose the sale of the property and pay capital gains tax, if applicable…
Read more...Posted date : Sep 14, 2023
In accordance with the U.S. tax code, you are required to disclose the sale of the property and pay capital gains tax, if applicable…
Read more...Posted date : Aug 2, 2023
In your spring 2023 edition, in the Bird Talk section, there was a question from Mr. William Gordon who
wanted to know if there were any capital gains to be repaid following the sale of their mobile home on
leased land…
Posted date : May 10, 2023
We own a mobile home in Florida, but do not own the land (rented). Selling a mobile home is similar to selling a vehicle where we sign over title. Annually, we pay for a mobile home trailer licence just like a car…
Read more...Posted date : Jan 13, 2023
My wife and I are thinking of selling our property in Florida and would like to know the steps in the process. I assume that we would go through a lawyer when it sells, but are there any U.S. taxes and/or fees which we would need to pay? We have heard conflicting stories from others who have sold. Thanks for clarifying this issue.
Read more...Posted date : Sep 19, 2022
My father-in-law would like to transfer ownership of his property in Florida to my wife and me. We are thinking of joining the title with all three and, upon his passing, it would pass to my wife and me as surviving owners. Will that work to avoid capital gains or gift tax?
Read more...Posted date : May 11, 2022
We bought a personal use home in Goodyear in 2007 and sold it at a capital loss in 2015. We had no U.S.-based income, so did not file a U.S. income tax return. …
Read more...Posted date : May 11, 2022
I am not sure if Canadians are fully aware that if you are not a U.S. citizen and decide to sell real estate property in the U.S., 15% of the selling price will be deducted from your proceeds and sent to the IRS within 20 days after closing. …
Read more...Posted date : May 11, 2022
We have purchased a property in Fort Pierce; we want to put our son who is 50 years old on the deed immediately. Our thinking is that upon our demise, he will already be an owner therefore eliminating the inheritance processes and associated costs. What are the advantages and disadvantages to such an approach?
Read more...Posted date : Dec 16, 2021
We are selling our condo and would like some legal advice. Do you have any recommendations of U.S. lawyers in our area whom we could consult? Is there an association that we can contact? We want to avoid any legal problems with this transaction….
Read more...Posted date : May 12, 2021
We sold a condo, in the U.S., this year – 2020. No tax was withheld. We have a slight gain in U.S. dollars. We have a larger gain in Canadian dollars, and intend to pay tax on that gain, in Canada. ..
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