My mother pass away year ago, she left a property to me and my brothers and
Is to be sold next month. My question is, if I bring the money of the sale to United
States do I need to pay taxes?
Thanks
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My mother pass away year ago, she left a property to me and my brothers and
Is to be sold next month. My question is, if I bring the money of the sale to United
States do I need to pay taxes?
Thanks
There is no tax on bringing money to the US, though the foreign bank account that you have may need to be reported using form TD F 90-22.1 -- see: http://www.irs.gov/pub/irs-pdf/f90221.pdf You would also have to report the sale as a capital gain on your income tax if your proceeds are greater than your cost basis.
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