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LauraAlvarMarti

Owning a house in your country.

By LauraAlvarMarti in Tax & Finances During US Immigration

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LauraAlvarMarti Rookie

LauraAlvarMarti   0

Posted
Filed: K-1 Visa Country: Spain
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Hello. My fiancé and I have recently applied for a K-1 Visa. Now, I own a house in my country. It is completely paid. I was wondering if I will have to pay any kind of tax once I move to the states for having a house overseas. I am from Spain. Will it influence my immigration process in any way? I´m quite worried. I´d like to keep the house. Thank you!

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LBeachey Collaborator

LBeachey   44

Posted
Filed: Lift. Cond. (apr) Country: China
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Once you become a green card holder (permanent resident) you like a US citizen will have to pay tax on your wroldwide income. If you choose to rent the house you will be taxed on the rental income but will also be able to deduct expense as if the house was in the US. If you do rent it, I would recommend you consult a tax advisor to understand the law. As when you go to sell it after you are permanent resident it may become a taxable event but again consult a tax advisor.

If yo choose to let relatives live there for free or keep it strictly as a vacation home, there likely will be no year to year tax consequences but there may be when you sell.

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TBoneTX Grand Master

TBoneTX   45,287

Posted
Filed: Citizen (apr) Country: Ecuador
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*** Thread moved from K-1 Process forum to the Tax & Finances forum. ***

06-04-2007 = TSC stamps postal return-receipt for I-129f.

06-11-2007 = NOA1 date (unknown to me).

07-20-2007 = Phoned Immigration Officer; got WAC#; where's NOA1?

09-25-2007 = Touch (first-ever).

09-28-2007 = NOA1, 23 days after their 45-day promise to send it (grrrr).

10-20 & 11-14-2007 = Phoned ImmOffs; "still pending."

12-11-2007 = 180 days; file is "between workstations, may be early Jan."; touches 12/11 & 12/12.

12-18-2007 = Call; file is with Division 9 ofcr. (bckgrnd check); e-prompt to shake it; touch.

12-19-2007 = NOA2 by e-mail & web, dated 12-18-07 (187 days; 201 per VJ); in mail 12/24/07.

01-09-2008 = File from USCIS to NVC, 1-4-08; NVC creates file, 1/15/08; to consulate 1/16/08.

01-23-2008 = Consulate gets file; outdated Packet 4 mailed to fiancee 1/27/08; rec'd 3/3/08.

04-29-2008 = Fiancee's 4-min. consular interview, 8:30 a.m.; much evidence brought but not allowed to be presented (consul: "More proof! Second interview! Bring your fiance!").

05-05-2008 = Infuriating $12 call to non-English-speaking consulate appointment-setter.

05-06-2008 = Better $12 call to English-speaker; "joint" interview date 6/30/08 (my selection).

06-30-2008 = Stokes Interrogations w/Ecuadorian (not USC); "wait 2 weeks; we'll mail her."

07-2008 = Daily calls to DOS: "currently processing"; 8/05 = Phoned consulate, got Section Chief; wrote him.

08-07-08 = E-mail from consulate, promising to issue visa "as soon as we get her passport" (on 8/12, per DHL).

08-27-08 = Phoned consulate (they "couldn't find" our file); visa DHL'd 8/28; in hand 9/1; through POE on 10/9 with NO hassles(!).

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