Americans Selling their Principal Residence in Canada – Episode 14


On episode #14 of Crossing the 49th Podcast we discuss the tax implications of Americans living in Canada selling their main home.

Given significance of home price increases over the last few years we often help US clients plan for the sale of their main home (principal residence) and to assess the tax implications of the sale for both Canadian and US purposes.

Cross-border taxation of principal residence sale for Americans in Canada:

  • How are principal residence sales are treated for Canadian purposes
  • How are principal residence sales are treated for US purposes
  • How to calculate PR sales for cross-border clients
  • How much tax would you owe in the US?
    • capital gains tax plus NIIT
  • Anything we can do about extra tax owing?
    • 1116 credits
    • Other losses
  • You can try our expat principal residence calculator here.

You can also stay updated on US Expat Tax and financial planning issues by following us at:

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Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.


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