TAXMAN Posted July 20, 2015 Report Share Posted July 20, 2015 Help. TP is a US citizen all his life. TP inherits land in Canada. TP wants to sell land and has a contract from Canadian business who wants to buy. Here is the catch.1: Does tp need to get a ITN number for Canada? Form T1261?2: Is basis on Canadian land the same as US land when inherited?3: Is TP required to file a Canadian Tax Return?4: Would there be a Canadian tax withheld at closing and paid over to Canada under the above stated # (itn)?5:Would the sale proceeds be handled through the Estate of or would they go directly to the TP who inherited?6: Is there an exemption from Canada Tax where US tp pays in US?7: How to correctly fill out form T2062A?8: Does tp need to get IRS form 6166?If you can help me with this, email me direct with name and a phone # for contact.Thank you very much for help. Quote Link to comment Share on other sites More sharing options...
Lynn EA USTCP in Louisiana Posted July 20, 2015 Report Share Posted July 20, 2015 My go-to guy for Canadian individual returns is an Enrolled Agent in Nebraska:Joseph Smith, EATravelTaxPHONE402.379.7818 (US)613.800.7145 (Canada)866.272.7871 (toll free, even from Canada and the Caribbean)Skype number = traveltaxFAX877.872.8829 For US Postal servicePO Box 1643, Norfolk, NE 68702 For UPS, Fed Ex1611 Koenigstein Ave. - Norfolk, NE 68701[email protected] 1 Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted July 21, 2015 Report Share Posted July 21, 2015 Tim Parris is who I always turned to for questions on Canada, I think Joan also is familiar with the rules in Canada. 1 Quote Link to comment Share on other sites More sharing options...
Max W Posted July 21, 2015 Report Share Posted July 21, 2015 This might help to orient an get a little background on the subject.http://turbotax.intuit.ca/tax-resources/inheritance-tax.jsp Quote Link to comment Share on other sites More sharing options...
TAXMAN Posted July 21, 2015 Author Report Share Posted July 21, 2015 KC how do I find these 2 people? Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted July 23, 2015 Report Share Posted July 23, 2015 Joanmcq is a member here, you can pm her. I sent you Tim's LinkedIn contact info. 1 Quote Link to comment Share on other sites More sharing options...
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