U.S. Real Estate Issues
<span>The U.S. real estate recovery is underway and approximately 40% of recent existing home sales have occurred in the southern United States.[1]Â Many Canadians have played a role in this recovery by purchasing U.S. property, either for personal use, rental use, or both. For these Canadians, there are several U.S. tax matters to consider, including obtaining an Individual Taxpayer Identification Number (ITIN), properly filing required U.S. tax returns, and applying for a withholding certificate. Properly addressing these matters is a requirement under U.S. income tax law, and can minimize tax withholdings and liabilities during ownership and at the time of sale.</span>
Aug 11, 2013