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<p class="MsoPlainText">I am thinking about a US-Canadian dual citizen who resides in Canada. She may make a gift of her Washington property to a Washington resident who is also a US-Canadian dual citizen though a Washington resident. I am only thinking about
this from a <u>US tax perspective</u>. <o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">My take right now is: I don’t think the cross border aspects change anything from a US tax perspective. In other words, my take is it’s all simply as it would be if there were no Canucks involved—for instance, gift tax return required;
the use of some lifetime exemption/no tax due (assuming the right facts); and a carryover basis.
<o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">Am I missing something? I will be very quick to confer with someone if it may not be as simple, from a US tax perspective, as I think it is.
<o:p></o:p></p>
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<p class="MsoPlainText">Thanks, <o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">Jacob<o:p></o:p></p>
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<p class="MsoNormal">Jacob H. Menashe<o:p></o:p></p>
<p class="MsoNormal">Hickman Menashe, PS<o:p></o:p></p>
<p class="MsoNormal">4211 Alderwood Mall Blvd., Suite 204<o:p></o:p></p>
<p class="MsoNormal">Lynnwood, WA 98036<o:p></o:p></p>
<p class="MsoNormal">(425) 744-5658 phone<o:p></o:p></p>
<p class="MsoNormal">(425) 744-6078 fax<o:p></o:p></p>
<p class="MsoNormal">Satellite Office in Bellevue<o:p></o:p></p>
<p class="MsoNormal"><a href="www.hickmanmenashe.com"><span style="color:windowtext">www.hickmanmenashe.com</span></a><o:p></o:p></p>
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