QUESTION:
Hello
I was hoping you could answer a few questions for me. I am a Canadian citizen who has been working in the US on TN Visas for ~ 4 Years. I am current planning to move to Canada but prior to leaving I am considering buying a US rental property. What are the Tax implications of doing this? Does the income produced from this property have to be declared in both the US & Canada? Can the property depreciation be claimed when filing a Canadian Tax return? Are the professional service used to manage a US property deductible? Are trips to visit and provide maintenance to the property deductible ? Would owing a US property have any bearing on being approved for further mortgages in Canada? Any other info or direction would be greatly appreciated.
Thank you
