I am planning on moving to the U.S. for a 5 year period using a non-immigrant visa. I have a primary residence in the NRC. Real-estate market is a bit slow this time of the year around the NRC and I am evaluating sell vs rent options and wanted to understand the tax implications.
If I rent my property now and if I sell it later, would I be double taxed both in the US and Canada? Would I be taxed only on the capital gains since renting or on the gross price? I bought my property in 2012 and USD to CAD conversion was good back then. For US tax purpose when there is a need to put the value of my house would I use the 2012 conversion rate or current conversion rate?