What is the best way for a Canadian to take title in Arizona?


My wife and I are buying an rental investment property in Phoenix AZ. From what I have read on the Internet, in my humble opinion,placing the title as Community Property with the Right of Survivorship is preferential to holding it as Joint Title with the Right of Survivorship. The community property option  allows a full step up in basis upon the death of a spouse, thereby offering significant tax savings in the event of capital gains when the property is sold.
Are there any other considerations, that my wife and I need to consider, being Canadians, in making this title decision? Thank you.

david ingram replies:

Under Canadian law, it does not make any difference.  If you pass and leave it to your wife, she gets  it at your cost base UNLESS, your estate elects to step up the value AND PAY TAX ON THE INCREASE ON YOUR FINAL RETURN - However, in general 99 out of 100 will pass it at the cost price.  when this happens, you are now out of step with the US return which is cumbersome when it comes to things like foreign tax credits.  However, I agree - Community property makes the most sense for you for the US purposes.
For other ideas, you should read these older questions.
My question is: Applicable to both US and Canada
Subject:        Canadian buying US Property
Expert:         [email protected]
Date:           Thursday January 31, 2008
Time:           09:56 PM -0000




Any past articles or advice on a Canadian buying in Palm Springs, CA.

Going to buying for investment purposes with hopefully rental income form vacation/tenant options.

Concerned about tax implications, property taxes, IRS, estate fees and anything else you can think of.


david ingram replies:

For others, the writer is referring to Ozzie Jurock's excellent Real Estate Investment Groups.  Find out more at www.jurock.com

To the questioner
You likely need to buy an hours consultation.  It is too bad that you missed Ozzie's Jan 6 seminar.

I am just answering with a series of old questions -

Sent: Wednesday, January 30, 2008 12:36 PM
Subject: buying land in Texas

Hi Sir/Madam,
I am a Canadian citizen and I want to buy property in somewhere in Texas. Do I have to pay any different tax?

Thank you
david ingram replies:
This older Q & A should assist you.
[email protected]: Please see bottom of message if you wish to unsubscribe.

Hello David,
  As per our conversation earlier, my dad is a Canadian Citizen and has very good credit. He wants to buy home  in US , but just to rent it later. What would be the requirements for this, and what papers he would need? He has no intentions to live or work in US.


There are no restrictions.  He can buy anything he can afford but can NOT do any work on it if it is a rental property.

He does not need anything but a Canadian Passport to go to the US to buy the property.

And, if going by land, he only needs a valid Canadian Governor driver's licence with a picture on it AND a birth certificate or a Canadian Heath Card.

My_question_is: Applicable to both US and Canada
Subject:        Filing tax on New Rental Property Texas
Expert:         [email protected]
Date:           Saturday January 19, 2008
Time:           05:23 PM -0000


We are Canadians and acquired a residential property in Texas in Dec 2007. We have a property manager and sent in applications for ITINs.

Our intention is to rent the property out for a number of years and then reside in it seasonally.

We will have to seek representation for future tax filings but have a number of questions:

1. Well we haven't rented out the property yet, we incurred expenses in 2007(legal, renovations, interest, property management).
Can we carry forward these expenses to filing in both jurisdictions in 2008  ?

2. We did two trips in 2007 for searching for
properties in the location before we bought. Are the costs associated with these trips, deductible in both Canada and US filings?

3. Depreciation - our intention after renting out the property for a number of years is to use it as a secondary residence.  What are the considerations concerning deducting depreciation with any future disposition?
david ingram replies:

1.    Any expenses for the purchase and getting ready for rent are NOT deductible against current income.

They CAN be added to the principal and deducted in the future against any capital gains when you sell it And be depreciated in the meantime.

As an example:

You buy a unit for $194,000.  and spend $2,000 legal expenses and $4,000 travel (to buy) for a total of $200,000

The municipal appraisal is for $150,000 and says the land is worth $75,000 and the improvements (bldg) are worth $75,000

You would set up the opening depreciation schedule in the US (schedule 4562) as Land $100,000 - Building $100,000 as a proration of the $200,000 you paid.

You would do the same in  the CCA spot on Canada's T776.

The Improvements and any carrying costs would then be added to the cost of the building.

So if you spent $18,000 on improvements and another $2,000 in interest for December, you would then add $20,000 to the cost of the bldg in both countries and the depreciation schedule would show land $100,000, Building $120,000.

That presumes that the property was not available to rent at the time because of the remodeling.

2.    After purchase, trips to Texas to look  at the property or deal with matters are not deductible even though there are lines on the return for auto.  Auto expense is to use your car, etc for repairs or to carry your lawn mower and is not designed for you to drive 2,000 miles.

In addition, since you can NOT do any repairs or improvements or even collect the rent for the Texas unit, there can NOT be a claim for going to Texas for you to physically paint or clean.
But even if the unit was in Nova Scotia where you can paint and clean, that travel expense is not deductible although the CRA and IRS tend to overlook the claim if made.

If you had bought it in September and the unit was available on Oct 1 and did not rent for Oct, Nov and December, than you would do as above with expenses up from the  day it was available and be able to deduct condo fees, taxes, interest, utilities, advertising, long distance phone calls, management, etc on US schedule E on form 1040NR (one of each of you if in joint tenancy) AND schedule T776 in Canada.

3.    Note that depreciation 'has to be' claimed on schedules E and 4562 under US law even if it creates a loss.

In Canada CCA (depreciation) can NOT be claimed unless it is used to reduce a profit.  CCA in Canada can NOT be used to increase or create a loss for rental property whether it is a jet engine, a motorhome, ski cabin in Whistler or condo in Florida.

If and when you sell the property, both countries tax the recapture of depreciation or CCA.  So unless you tear the old building down (no recapture) any tax you save in the interim has to be repaid, in both countries.  I prepared a Hawaii tax return today where the depreciation claimed over the last 20 years resulted in a $32,000 tax bill today.

In addition, under sections 45(4) of the CANADIAN Income Tax Act, if you have depreciated the unit and then convert it to a personal unit in the future, you must pay any capital gains tax and any recapture tax when you move into it as your own.  If you rent it out withOUT claiming Canadian depreciation, section 45(3) allows you to delay paying any capital gains tax until the actual sale when you convert the rental unit to personal use.
Because your property is in Texas, there is no state return to prepare as there would be in Vermont, California, Arizona,  and another 40 states.
The following was given out at a recent seminar for Ozzie Jurock's Real Estate Action Group (REAG) which you can find out about at www.jurock.com.

QUESTION: I am looking at buying property in the US.
What tax implications should I be looking at beforehand?
Also, can trips taken there to look at properties be claimed as an expense after I've bought?  Can trips just to look be claimed against anything (what if I look in Vegas, Arizona, and Portland, but only end up buying in one or none).

david ingram replies:

I actually spoke to 113 people at Ozzie Jurock's Seminar at SFU on Monday Night, Jan 7 2008.

The trips are not a writeoff against other income.  If you buy something they can be addded to the cost of the property you did buy.

i.e., if you spent $5,000 on trips and paid $200,000, the cost of the unit for future depreciation purposes would be $205,000 less any land value.

It would also affect any future taxable capital gains when you sold the property.

Remember if you do a piece of real estate for investment, you can NOT do any work on it whatsoever.  If you do, you risk jail, fines and being banned from the US for 3, 5, 10 year or even forever.

The following two pieces plus a sample US rental tax return were handed out at the seminar.

ONE dealt with the working issue and what forms to fill out.

David Ingram's US/Canada Services
US/Canada/Mexico Tax Immigration & working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Calls accepted from 10 AM to 10 PM 7 days a week
Res (604) 980-3578 Cell (604) 657-8451
Bus (604) 980-0321 Fax (604) 980-0325
[email protected]
www.centa.com www.david-ingram.com

Jan 6, 2008.

Rentals in the USA.

QUESTION that came to me from ASK AN EXPERT at  www.jurock.com

We just purchased property in Spokane Washington( a 4 plex apartments)
We plan on renting out 3 of the units and keeping one.  I was told by the border crossing inspector,
that I have to hire a rental agency in order to rent out the apartments.
and I also  have to have a property manger full time..
We will be at our apartment approx 2 times a month..
So we do not need a property manager.
Do you know if this true,, or please direct me to the correct person that would be able to help me.
Thanks for your time.

david ingram replies:

You need a property manager if you do not want the strong possibility of going to jail for a few days before being deported and then not allowed back in the USA. For a story about US Immigrations hell for a Holiday Inn Manager, try
or how about a married woman's ordeal in Georgia for a traffic violation  at

Crossing the border when you have an ad running to show the premises and saying you are going down to spend the weekend in your holiday home (i.e lying to the HOMELAND Security official) could result in seizure of your vehicle and a ban for up to 10 years under their ER (Expedited Removal) process.  In other words, it is more serious to lie to the guard at the border than it is to do the work.

You 'could' actually show the property for rent,  but you can NOT write out a contract for rent or collect a single rent cheque (check) or cash for rent in the United States. There is nothing new about this.  The first time I ran into it was in 1972 or 1973.

If you are physically there, you can NOT cut the grass, shovel the sidewalk, paint or decorate or repair or fix or remodel or improve or take out the garbage for any part of the rental property.

You can paint and clean your own unit if it is NEVER rented or intended to be rented. You can not paint and clean up getting the property ready for rent so DO NOT make the mistake of thinking you can live in one, clean it up and remodel it and then rent it out and do the same for another one and then another one and another one. If you do this and one of your tenants (who maybe doesn't like you because you evicted them or told them to turn their stereo down when you happen to be in town or for any other reason) read my website, (or the uscis website) he or she would find out that you can NOT do this stuff and could phone the Homeland Security office or write an anonymous letter and you could be arrested in November 2008 for something you did in December 2007. 

This may seem unreal, but in US terms, working without a visa is just as serious in law as the spontaneous robbing of a convenience store and the penalties can be worse.  Think of those nightly news shows with 28 illegal Mexican or Guatemalan citizens being stuffed into Paddy wagons on the Arizona border. This is not a racist comment but with the Mexican illegal immigrants, bing rounded up and shipped back across the border is a way of life with no social stigma.  For a nice clean living Canadian, being thrown into an immigration detention cell for taking money for rent is a devastating experience. In one case, a mother and her son were thrown into jail for 5 days in Phoenix when she went to Phoenix from White Rock BC.  Her husband owned 18 units and HAD a property manager.  Unfortunately, he also died in the arms of that female property manager and his widow then fired the property manager and she and her 20 year old son went to Phoenix to collect the rent and hire another property manager.

The property manager (who knew the law as everyone in Arizona does) phoned Homeland Security who showed up and arrested mother and son and threw them into the notorious Phoenix Immigration hell with some 300 other illegals. To rub salt into the widow's wounds, the property manager ended up with the property because she was a second mortgage holder on the property and the property fell into default because of the widow's cash flow troubles, largely because she could not go to Phoenix to hire another property manager.

For instance, for 'you', this kind of arrest could result in imprisonment for a usual five days in a US immigration jail until you posted $5,000 bail each and then being banished from the US for five to ten years. 

It does not stop there.  This type of conviction would stop you getting on an airplane which stopped in the USA on the way to Mexico.  AND,  under new US laws that have been proposed but not yet actually put in place, the arrest and banning would stop your Nov 6 trip to Cancun because people in this position will not even be allowed on commercial airliners that are flying over any part of the US. To get to Cancun, you would have to fly from Calgary or Vancouver to London England and then back to Mexico City and 'then' to Cancun and reverse it to get home.

This may be overkill but 'You' are / were lucky that the inspector gave you the correct advice BEFORE you put your foot in it.

By the way, for income tax You ALSO HAVE TO FILE A 1040NR US TAX RETURN WITH A SCHEDULE E AND A SCHEDULE 4562  EACH.  Then the same income gets put on Schedule T776 of your Canadian return.  If you have paid tax to the US, you will claim it as a credit on Canadian forms T2209 and T2036.

David Ingram's US/Canada Services
US/Canada/Mexico Tax Immigration & working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Calls accepted from 10 AM to 10 PM 7 days a week
Res (604) 980-3578 Cell (604) 657-8451
Bus (604) 980-0321 Fax (604) 980-0325
[email protected]
www.centa.com www.david-ingram.com

The second dealt with making your personal mortgage interest in Canada deductible and the Overs, Evans, Lipson and Singleton tax cases and GAAR

David Ingram's US/Canada Services

Mortgage Interest as a Deduction in 2008 – dealing with GAAR

I first conceived of this method in 1975/76 when a client of mine had a rental duplex and had a tenant who was injured in a car accident.  It was at the time of the changeover from private insurance to ICBC and the injured single mother tenant was waiting for an insurance settlement. 

My client allowed his tenant to stay in the half duplex for more than a year and to stay afloat him self, he borrowed money to pay the duplex bills. When doing his 1975 tax return, we deducted the interest paid on the loan because the purpose of the loan was clearly to fund the rental duplex.   

When he finally got his cheque for more than $5,000 from the tenant, it would have been all over if he had just paid the loan off and we had not thought about it. But my client, bless his soul, phoned and asked if he had to pay off the loan (which was deductible) or could he use the money for another non-deductible purpose.

My answer, after thinking about it for a day or so, was that he could us e the $5,000+ for any purpose he could think of.  At the same time, I said this, I was also writing something for the North Shore Credit Union and put my ‘new’ method of making the mortgage interest deductible in this report which they then published as part of an advertisement in the North shore News in (I think) November, 1976. 

I expanded it and it was next published by Hancock House Publishers in my Investment Guide in 1979, 1980 and 1985 and 1991 and BC Business magazine in 1979. Sometime in there, the Ontario Dental Association also ran it in their magazine. It then became part of the Internet and can be found in the March 1997 and November 2001 newsletters.

I was pretty heavily involved in the Federal  Conservative Party (ran for the North Shore Nomination in 19780 and am proud to say that we got mortgage interest as a tax deduction on the 1979 federal Income tax return. 

Unfortunately, Joe Clark, the Prime Minister at the time, did not count the number of yes votes and lost a non-confidence motion on Dec 12, 1979, and on Feb 18, 1980, Pierre Trudeau was re-elected as Prime Minister and even though there was a 4-page form and a line on the T-1 General that year, the deduction was killed retroactively by the liberal government and we no longer had this benefit for all without manipulating the paperwork.

In 1981, Fred Snyder was running a series of seminars and teaching my method to a lot of different groups.  In one seminar, he taught it to Realtors, McCauley, Nicolls, Maitland and Company and the manager Fraser Smith wrote Fred a letter thanking him for explaining the methods.  In 1985, Fraser Smith than published the SMITH MANOUVRE which explains the method in great detail and at the time, VANCITY Savings Credit Union was featured in the book and was very good at setting up the method.

Then on Oct 27, 1988 John Singleton had approximately $300,000 in his lawyer’s capital account.  He got permission to take the $300,000 out (it was his but was being used as security in his law practice).  He used it to buy a house and then used the house as security to borrow $300,000 which he then put into his capital account; this was all done in one day.  Of course, since the money in the account was now borrowed for business purposes, he deducted the interest on his 1988 and 1989 returns and the Tax Department turned him down.  He appealed and lost in the Tax Court of Canada but won in the Federal court of Appeals.  The CRA appealed to the Supreme Court and in October 2001, the Supreme Court of Canada found in favour of John Singleton in a 5 to 2 decision.

This case has now been quoted and cited in many other cases.  In OVERS 2006 TCC 26, Mr Overs paid back a shareholder-loan, which would have been included in his income.  By doing what he did, co-incidentally, the interest expense was made deductible. 

Mrs Overs borrowed funds to purchase shares of his holding company at their fair market value.  However, Mr Overs did NOT use a 73(1) rollover as Lipson did.  Therefore, no capital gain was realized but the attribution rules in section 74(1) worked to transfer the interest expense on the wife’s borrowed funds -- back to him.

Judge Little turned down the CRA’s claim that tax benefits arose from this series of transactions.  The taxpayer followed the Income Tax Act in repaying his loan and transferring the shares to his wife. Justice Little ruled that the transactions were NOT avoidance transactions and therefore GAAR did not apply. Judge Little ruled that none of the transactions could be considered “abusive tax avoidance”.

And Judge Bowman ruled in favour of Evans (2005 TCC 684).  Judge Bowman found there were no avoidance transactions in what could only be described as a super complicated and very sophisticated series of business restructurings that ended up with a former shareholder receiving cash by using  specific rules in the Act, including sections 85

(rollovers), 110.6 (capital gains exemption), 112 (tax free inter-corporate dividends), 74.5 (attribution) and ss. 84(3) (deemed dividends).

Judge Bowman assumed that there ‘were’ avoidance transactions.  He then dealt with them on an individual basis to decide whether the avoidance transactions were ‘abusive’.  His final decision was that provisions of the Income Tax Act operated as intended and there could not be any abuse.

However, he was not of the same opinion with the LIPSON Family who lost in Lipson v. The Queen, 2006 TCC 148 

Mr Lipson owned a profitable business and:

  1. The Lipsons contracted to buy a home in Forest Hills in Toronto
  2. Mrs Lipson took out a demand loan to buy share in the family business from her husband.
  3. The shares were transferred to Mrs Lipson as a section 73(1)  rollover
  4. Mr Lipson used the funds to buy the house
  5. They “both” took out a mortgage on the house to repay the demand loan

 Judge Bowman used the Section 245 GAAR provisions to rule that the Lipson family was guilty of Gross Abuse of the Tax system.  Perhaps, if they had a business reason for the loan or had not used the Section 73(1) tax free rollover, he would have found in their favour as he did with the EVANS 2005 DTC 1762 case.  In the LIPSON case the wife’s borrowing did not put income in her hands and it was unclear who had paid the interest.


This older answer about PALM SPRINGS  might also help.



1. Can a Canadian citizen with business in Canada buy vacation house in USA.
2. What are complications associated with tax and getting mortgage for such property.

david ingram replies:

1.    Providing you do not have a criminal record which would stop your going to the USA, there is no reason why you can not buy a vacation home in California, Arizona, Texas, Florida, Alaska or any other US destination if you can afford it.

2.   I usually recommend that you borrow half in Canada and half in the US.  That will always qualify you for the US mortgage and you are moderately protected from foreign exchange which can be devastating. Use your Canadian house as security for the half down in the US. And, of course, the same thing is true in reverse. 

When you go to sell, you will pay tax first in the US (and maybe a state tax in California, Arizona, South Carolina, Vermont, etc.)

This older question may help




My wife and I are looking at possibly purchasing a condo in Palm Springs for our retirement. We are both 50 years old and plan on working for the next 7 or 8 years. Our plan is to purchase and use it a few times a year and rent/lease it out for the remainder of the year until we reach retirement at which time we would spend 4 or 5 months a years there. Looking for some advice on what we should be looking out for and what would be a better choice mortgage wise, U.S. or Canadian funding. Or is it a good idea at all to purchase U.S. real estate as a Canadian? Any advice or literature that's out there that you could direct us to would be greatly appreciated. Thanks!

xxxxx xxxxxxxx
david ingram replies:

If your intention is to start spending significant time there, buying now is extremely sensible because you are buying it at today's price which will logically go up in the future.  You 'are' of course, also dealing with exchange.

Since your earnings are in Canadian dollars, borrowing the money in Canada and paying cash in palm Springs means that you will be paying in a known currency.

To explain that statement, persons who bought in 1991 with a US mortgage payment of $1,000 needed $1,145.87 Canadian dollars to make the payment.  By 2001, they needed $1,548.62 to stay even.

However, in reverse, if you bought in 2002, you needed 1,570.36 and only need about $1,060 to stay even today.

Currency exchange does go both ways.

You might want to borrow half in Canada and take out a mortgage for half in Palm Springs.

If you are renting the property, you will both need to file a US Federal 1040NR with Schedule E and California 540NR return and then change the currency  to Canadian and file form T776 with your Canadian T1 returns.  Failure to file the form 1040NR can have penalties of $1,000 to $10,000 per year per return per person even if you lose money.  A very real problem is that all sorts of Canadians approach a US accountant and ask about filing and are told they do not need to file a return because they are losing money.  Not so.  When it comes time to file, hunt down a specialist in dual country tax returns like Gary Gauvin in Dallas,, Steve Peters in Halifax, Kevyn Nightingale in Toronto, Brad Howland in Victoria or myself in Good Olde North Vancouver.

Whatever you do, do NOT buy it in a corporate name. You will not save anything and end up with another $2 or $3,000 of accounting fees.

You will also need to file personal US tax returns if you are there more than an average  of 120 days a year.

The following is from my April 1994 newsletter which you can find at
www.centa.com in the top left hand box.  Note that it was written in 1994 and still apropos today.

- my system would not allow this to be included - some permission setting. - you will have to go to the web site www.centa.com to read it but you should if in this position -

david ingram's US / Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
My Home office is at:
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Cell (604) 657-8451 -
(604) 980-0321 Fax (604) 980-0325

Calls welcomed from 10 AM to 9 PM 7 days a week  Vancouver (LA) time -  (please do not fax or phone outside of those hours as this is a home office) expert  US Canada Canadian American  Mexican Income Tax  service help.
pert  US Canada Canadian American  Mexican Income Tax  service and help.
David Ingram gives expert income tax service & immigration help to non-resident Americans & Canadians from New York to California to Mexico  family, estate, income trust trusts Cross border, dual citizen - out of country investments are all handled with competence & authority.
Phone consultations are $450 for 15 minutes to 50 minutes (professional hour). Please note that GST is added if product remains in Canada or is to be returned to Canada or a phone consultation is in Canada. ($472.50 with GST for in person or if you are on the telephone in Canada) expert  US Canada Canadian American  Mexican Income Tax  service and help.
This is not intended to be definitive but in general I am quoting $900 to $3,000 for a dual country tax return.

$900 would be one T4 slip one W2 slip one or two interest slips and you lived in one country only (but were filing both countries) - no self employment or rentals or capital gains - you did not move into or out of the country in this year.
$1,200 would be the same with one rental
$1,300 would be the same with one business no rental
$1,300 would be the minimum with a move in or out of the country. These are complicated because of the back and forth foreign tax credits. - The IRS says a foreign tax credit takes 1 hour and 53 minutes.
$1,600 would be the minimum with a rental or two in the country you do not live in or a rental and a business and foreign tax credits  no move in or out

$1,700 would be for two people with income from two countries

$3,000 would be all of the above and you moved in and out of the country.
This is just a guideline for US / Canadian returns
We will still prepare Canadian only (lives in Canada, no US connection period) with two or three slips and no capital gains, etc. for $200.00 up. However, if you have a stack of 1099, or T3 or T4A or T5 or K1 reporting forms, expect to pay an average of $10.00 each with up to $50.00 for a K1 or T5013 or T5008 or T101 --- Income trusts with amounts in box 42 are an even larger problem and will be more expensive. - i.e. 20 information slips will be at least $350.00
With a Rental for $400, two or three rentals for $550 to $700 (i.e. $150 per rental) First year Rental - plus $250.
A Business for $400 - Rental and business likely $550 to $700
And an American only (lives in the US with no Canadian income or filing period) with about the same things in the same range with a little bit more if there is a state return.
Moving in or out of the country or part year earnings in the US will ALWAYS be $900 and up.
TDF 90-22.1 forms are $50 for the first and $25.00 each after that when part of a tax return.
8891 forms are generally $50.00 to $100.00 each.
18 RRSPs would be $900.00 - (maybe amalgamate a couple)
Capital gains *sales)  are likely $50.00 for the first and $20.00 each after that.

Catch - up returns for the US where we use the Canadian return as a guide for seven years at a time will be from $150 to $600.00 per year depending upon numbers of bank accounts, RRSP's, existence of rental houses, self employment, etc. Note that these returns tend to be informational rather than taxable.  In fact, if there are children involved, we usually get refunds of $1,000 per child per year for 3 years.  We have done several catch-ups where the client has received as much as $6,000 back for an $1,800 bill and one recently with 6 children is resulting in over $12,000 refund. 

Email and Faxed information is convenient for the sender but very time consuming and hard to keep track of when they come in multiple files.  As of May 1, 2008, we will charge or be charging a surcharge for information that comes in more than two files.  It can take us a valuable hour or more  to try and put together the file when someone sends 10 emails or 15 attachments, etc. We had one return with over 50 faxes and emails for instance. 

This is a guideline not etched in stone.  If you do your own TDF-90 forms, it is to your advantage. However, if we put them in the first year, the computer carries them forward beautifully.

IRS Circular 230 Disclosure:  To ensure compliance with requirements imposed by the IRS, please be advised that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used or relied upon, and cannot be used or relied upon, for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.--

Disclaimer:  This question has been answered without detailed information or consultation and is to be regarded only as general comment.   Nothing in this message is or should be construed as advice in any particular circumstances. No contract exists between the reader and the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent and appropriately qualified legal practitioner or tax specialist for expert help, assistance, preparation, or consultation  in connection with personal or business affairs such as at www.centa.com or www.garygauvin.com.  If you forward this message, this disclaimer must be included." -



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