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Sale of house in the US days after moving to Canada: how to report on CA taxes?

bwebste

Newbie
Mar 2, 2018
1
0
My family and I moved to Canada last year (with the intent of staying permanently; currently on work permits). We sold our house in the US, with the sale closing 3 days after we arrived. From my reading of CRA documents, we're supposed to pretend that we bought our house at fair market value, and then sold it again 3 days later for the contracted price. Can we take the contracted price (the contract was signed before we moved to Canada) as the market value? Should we extrapolate the change in value from our original cost basis (which would, of course, be tiny, but not absolutely zero)?