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Natalia

US Tax on selling property in another country

By Natalia in Moving to the US and Your New Life In America

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zyggy Experienced

zyggy   9

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Filed: Country: Canada
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Dealing with Foreign Source Capital Gains and Losses is a pretty touchy subject and should be reported with the guidance of a qualified tax professional. Esentially, you report the gain and or loss on a Schedule D and then if you pay Foreign Tax on the gain, you can take a foreign tax credit on that portion of the gain. Not that easy to do...

Publication 523 does not apply as this is for only US Property with US Capital Gains...

You can find more guidance in Publication 514.

Knowledge itself is power - Sir Francis Bacon

I have gone fishing... you can find me by going here http://**removed due to TOS**

 
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