We have a rental property valued over $100k in another country that we have no expectation of a profit and we reported a loss. Do we still need to file a T1135 return?

Yes, you still need to declare this foreign property to the CRA as it is over $100,000.

 

Please review the links provided below for further clarification.

 

From the CRA:

• Specified foreign property

• Questions and answers about Form T1135

From TurboTax Blogs:

• T1135 Tax Form: Foreign Income Verification

• Declaring Foreign Property on Your Tax Return