- Joined
- Dec 23, 2018
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I severed ties to Canada 1/20/2020. I live in USA now.
My 1/20/2020 Sole Prop T2125 closing inventory value is ~$10k. I'm continuing my business from the US and selling said inventory under my US Sole Prop and LLC in Canada (Amazon.ca FBA, no permanent Canadian establishment)
Q: Is there a way to "expense" this remaining ~$10k inv on my final Canadian return so I can have a 1/20/2020 T2125 closing inventory valuation of $0 instead of $10k? Are there any forms / deemed dispositions I must file to do this?
My 1/20/2020 Sole Prop T2125 closing inventory value is ~$10k. I'm continuing my business from the US and selling said inventory under my US Sole Prop and LLC in Canada (Amazon.ca FBA, no permanent Canadian establishment)
Q: Is there a way to "expense" this remaining ~$10k inv on my final Canadian return so I can have a 1/20/2020 T2125 closing inventory valuation of $0 instead of $10k? Are there any forms / deemed dispositions I must file to do this?