Would Like T Know If Any Capital Gains Tax On Following:
Nonresident Alien Sold Condo For $25k Profit And At The Same Time Purchased A New Condo Costing 50k More Than The One Sold.
Please Advise.
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Would Like T Know If Any Capital Gains Tax On Following:
Nonresident Alien Sold Condo For $25k Profit And At The Same Time Purchased A New Condo Costing 50k More Than The One Sold.
Please Advise.
The $250K tax exemption for sale of your personal may not apply to Non-resident aliens.
However, you should be able to transfer the Capital Gains to the new Condo and defer paying any capital taxes.
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