@sorrytale , thank you for your response. I understand the situation better and generally agree with the plan of
(a) recognize the "use-change" mark-to-market" for Canadian tax purposes.
(b) For US purposes, ignore the " use change" issue, recognize any rental income during 2024, expenses, any residual/available depreciation ( during rental year/period ) -- foreign source income and claim any possible /eligible foreign tax credit -- under US law and mitigation of double taxation clause of the treaty
(c) Assume that the property will get a US step-up when disposed off by the Estate ( in the distant future ).
Thank you for your kind words.
Is there more I can do for you ?
pk
