If you are a non-resident alien who needs to file taxes in Arizona, see the following. http://www.azdor.gov/LinkClick.aspx?fileticket=ya1vt7rSO0s=&.. You can e-file using this form. http://www.azdor.gov/LinkClick.aspx?fileticket=1lBSrLEEXZI%3D&tabid=257&…
Some interesting info and important considerations for Canadian Snowbirds at this Globe and Mail article. 1. How long can we stay? Two factors are important to consider for this question. Day count for border services purposes. Canadians can visit for …
For an over view of this topic as it applies to Canadians, see http://www.cra-arc.gc.ca/E/pub/tg/t4036/t4036-e.html#tphp
There are some tax implications for Canadians who own rental properties in the USA. A google on “owning rental properties in both canada and the usa” brings up a link to this recent article. Owning U.S. property may mean tax implications …
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According to this Turbo Tax article, rental properties are, by definition, passive activities and are subject to the passive activity loss rules.However, there is an exception: If you own at least 10% of the property, and you make major management decisions, you …
The IRS and Turbo Tax also offer information on depreciating your rental property. This is required for US properties. Figure out the depreciation on your rental property by: Determining your cost or other tax basis for the property. This is generally what …
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There is a big difference between capital improvements and repairs. According to Turbo Tax, “the cost of property improvements generally must be capitalized and depreciated over several years (by following IRS depreciation tables) rather than deducted in the year paid. By …
Turbo Tax will walk you through the process of reporting your rental income to the IRS. They have a posting on Real Estate Tax and Rental Property at the previous link. They promise to “help you with deductions, depreciation, and getting …
For the snowbird who also wants to rent out their American vacation home, here are some links to tax tips. My starting point was the IRS page on Rental Income and Expenses – Real Estate Tax Tips. It provides tips on …