I live in US and have a property abroad. If I sell it and transfer the fund to US do I have to pay any kind of tax on it. I am selling it the same price as I bought it, no capital gain.

There is no transfer tax.

You WILL have report the sale on Schedule D even without any capital gain.

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Originally Posted by AtlantaTaxExpert

There is no transfer tax.

You WILL have report the sale on Schedule D even without any capital gain.

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Do I have to pay Tax on it. If I have lived there for more than two years?

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Originally Posted by Suraya

Do I have to pay Tax on it. If I have lived there for more than two years?

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You would pay tax on the capital gain - but since you said there is no capital gain, there is no tax. If there was a capital gain you may qualify for an exclusion against some or all of the gain if the property had been your principal residence for at least two of the previous five years. I can't tell you whether there are any taxes due in the country where the property is located.

Thank you

As always, ebaines advice is 100% accurate. I have nothing to add.