Hi,

I am working in US and am neither a US citizen nor a Green card holder (but am a resident for tax purposes). I have a property (home) in my home country which I would like to sell and reinvest the capital gains in another property in the same country (so as to avoid taxes).

Will US require me to pay taxes on this (since taxes will be exempted by my home country and Uncle Sam wants a cut on global income)? I do not have any other home anywhere and I am renting in US. But I do not know whether it will meet the primary residence criteria?

Is there a way I can avoid payment to Uncle Sam?

Thanks.

Just to add to the above.. the home is not rented out. This is the place where I live whenever I visit my home country (average 2 weeks per year).
Also, I am not bringing back the capital gains to US.

As a U.S. resident, you must report worldwide income. Sale of home will be reported on schedule D (Form 1040) and gain is taxable in the U.S.
If you pay any tax in India, you will claim foreign tax credit by filing Form 1116. If you do not pay any tax in India, you will not get any tax credit in the U.S.
If your home is India in your main home, you can exclude gain of up to $250,000. Your U.S. Tax Return: Profit From the Sale of Your Home (http://taxipay.blogspot.com/2008/03/profit-from-sale-of-your-home.html)