am Canadian and sold a rental condo in Florida in 2018. For capital gain, is it taxed at different rate than rental income? How can I calculate the tax amount due to capital gain and which Line I put it in? I put the total capital gain and rental income into line 41 and 42 and can’t figure out how the rental income and capital gain are taxed differently.
Every year, I have rental income loss incurred after claiming full Depreciation, how can I use these rental income loss to reduce the deprecation recaptured amount?
With Depreciation recapture, should I use the full amount as per IRS, or should I use the amount as per I filed my tax every year, as I used the Alternative depreciation approach (40 years amortization).
Can I efile form 1040NR?
If you are a nonresident of the US (see substantial presence test calculation below), you need to file a nonresident tax return.
TurboTax does not support nonresident returns.
However we have a partnership with Sprintax offering a nonresident tax filing solution to our TurboTax customers.
Visit the TurboTax/Sprintax site for more info or to get started.
http://madanca.com/articles/entry/tax-implications-for-canadians-selling-us-property-real-estate/