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View Full Version : Selling vacant land in Germany


kaylalou
Mar 19, 2013, 07:14 AM
I have someone who has vacant land in Germany, which they have already paid an inheritance tax on. Now they want to sell, what would be there tax liability here in the United States?

AtlantaTaxExpert
Mar 19, 2013, 07:25 AM
The Fair Market Value of the land is set at time of death of the decedent.

You will pay taxes on the difference between what you sell that property for and the FMV noted above.