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View Full Version : Italian-American: real estate


Gaeta
Apr 2, 2012, 10:01 PM
I hold dual citizenship, 10 yrs ago I sold my home in CT and moved to Italy to a home I inherited with my sibling, (I bought out my sibling's part) If I sell it, and transfer the funds to the USA is there a limit to the amount I can transfer and will I incur any taxes?

AtlantaTaxExpert
Apr 5, 2012, 05:18 PM
There are no transfer taxes on the U.S. side of the transaction, though you may have to file Form 3520 to explain the source of the funds.