Solved: I am a canadian citizen and I have 3 US rental pro...

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
EnglishEN

Pick a language

Français English
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

I am a canadian citizen and I have 3 US rental properties so although i ALREADY paid income taxes on the revenue in the U.S.

I still have to include the net income on my Canadian side and of course be taxed on the canadian side? Is there a tax treaty US/Canada that I am not taxed twice on my rental income?
1 Best answer

Accepted Solutions
Highlighted
Level 6

I am a canadian citizen and I have 3 US rental properties so although i ALREADY paid income taxes on the revenue in the U.S.

You will enter this foreign income, and, also, the actual foreign taxes paid to the US. The foreign taxes paid will create a foreign tax credit.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns409-485/405-eng.html 

View solution in original post

1 Reply
Highlighted
Level 6

I am a canadian citizen and I have 3 US rental properties so although i ALREADY paid income taxes on the revenue in the U.S.

You will enter this foreign income, and, also, the actual foreign taxes paid to the US. The foreign taxes paid will create a foreign tax credit.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns409-485/405-eng.html 

View solution in original post

v