Selling DVC as a Canadian? Tax?

[newdeal]

I know this is the purchasing DVC forum but I had a question about selling DVC as a Canadian. I know that when you sell you need to have a withholding tax from the IRS and then apply for it back (any idea how long that takes?) but I was wondering do you have to pay Canadian tax on anything in regards to the sale as well?

 

[DVCanadian]

I think you may need to pay capital gains tax on any profit you make from selling.
This link is interesting. You may need to consult tax specialists.

 

[Cyberc1978]

I know this is the purchasing DVC forum but I had a question about selling DVC as a Canadian. I know that when you sell you need to have a withholding tax from the IRS and then apply for it back (any idea how long that takes?) but I was wondering do you have to pay Canadian tax on anything in regards to the sale as well?

Im located in Europe and I sold a contract which closed in December and im still waiting for my FIRPTA tax to be returned

Guess the IRS aren’t working that fast if they are at all working that is

 

[AdamsMum]

After I sold a small contract, I received a letter from the IRS saying that if I wanted to claim back any of my FIRTPA then I should apply for a ITIN(?) number. If not then no action necessary. That could be the result of it being such a small amount, it was a 30 point contract and the FIRTPA was around $400. I think the withholding tax is higher now. Most people who go through that process do it to get money back.

 

[HarlanE]

As a Canadian potential buyer, are there any tips you can pass along to me to make the process smoother? thanks

 

[Jimmy Geppetto]

I know this is the purchasing DVC forum but I had a question about selling DVC as a Canadian. I know that when you sell you need to have a withholding tax from the IRS and then apply for it back (any idea how long that takes?) but I was wondering do you have to pay Canadian tax on anything in regards to the sale as well?