I have a florida US rental property that I sold last year do I still pay capital gains tax in canada if i already paid it in the U.S.?
Good Morning,
You will still need to declare this capital transaction on your income tax return, as it is taxable income. You will enter the foreign taxes paid to the US, to receive the foreign tax credit.
I have a florida US rental property that I sold last year do I still pay capital gains tax in canada if i already paid it in the U.S.?
Good Morning,
You will still need to declare this capital transaction on your income tax return, as it is taxable income. You will enter the foreign taxes paid to the US, to receive the foreign tax credit.
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