Foreign (Non U.S.) Sale of Property


If you own a house in your native country that you are planning to sell, your U.S. filing requirements are much the same as a U.S. person living abroad.

Sale of Foreign Property

If the time has come to sell the property that you left in your native country, you should be aware that the sale still needs to be reported to the IRS on your yearly tax return in U.S. dollars.  Even if there wasn’t a gain on the sale in the foreign country.  As with most all foreign income, if there is foreign tax paid on the gain of the sale of the property, it can be used to offset any U.S. taxes that might be owing.

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Any tax advice herein is based on the facts provided to us and on our interpretation of tax legislation as it reads at the time the advice is provided. Tax law is subject to continual change, at times on a retroactive basis and may result in incremental taxes, interest or penalties. We are not responsible for updating our advice for changes in law or interpretation after the date the advice is provided. Every tax situation is different. We are not responsible for the tax implications to any individual or entity that may act on this advice.