Canadian investing in US real estate

[Cody Shearer]

Hey everybody! I’m from Canada, starting to go to school in the fall. Looking to house hack and find some of my classmates to help pay down my mortgage for the next few years. Then eventually turn it into my own student rental!

What tax implications are there investing in the US from Canada? Do you need to be a citizen or how does this work as far as collecting income out of your country? Feel free to share any input or articles that you’ve found about tax implications and/or rules and regulations about out of country investing. Specifically from Canada to the US. 

On a side note if anyone knows of HML's or mortgage lenders that specialize with foreign investors that would be great. (Omaha,Fremont Nebraska area specifically)

Thanks in advance!!

[Basit Siddiqi]

@Cody Shearer

You will need to file a US tax return reporting your rental income.
You may also need to file a state tax return depending on what state the property is located in.

You may also have to potentially report the income on your Canadian tax return. However, you may get a credit for taxes(if any) that are paid to the US.

When living in the US, you will need to determine if you are a resident or non-resident for tax purposes.

Best of luck!