[whistlerexpat]

US Canadian Dual Citizen living in Canada. If I sell my house and after taking the 250k exemption am I required to report this on my1040 tax return if no tax payable?

 

[Bevdeforges]

From publication 523 (Selling your home):

Do not report the 2012 sale of your main home on your tax return unless:

You have a gain and do not qualify to exclude all of it,

You have a gain and choose not to exclude it, or

You received Form 1099-S.

If your gain falls within the limits, it looks like you don't even have to report the sale.
Cheers,
Bev

 

[whistlerexpat]

Thanks very much Bev for your quick response.