Although you may not have to pay taxes on it, you still have to declare your foreign property over $100,000 on your Canadian tax return.
But because it is the USA, we do have a tax treaty, therefore prevents us from being double taxed.
The link below will assist you in entering in your foreign income sources in TurboTax:
How do I enter foreign income that is subject to a tax treaty?
https://turbotax.community.intuit.ca/replies/264775
And if for whatever reason you needed to report "other" types of foreign investments/pensions/income sources.
How do I report foreign income, pension, and other foreign amounts? https://turbotax.community.intuit.ca/replies/2647976
The above answer does not address the original question.
Do we even need to report foreign property (not income) worth over $100,000 on T1135 as non-residents.
CRA says non-residents are not required to report but TurboTax does not allow to skip this question.
Can I select "No" to the question and move on?
This is a really good question and I would like to have an answer to it, too. No credible answer has been provided after over a year.
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