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-   -   Selling vacant land in Germany (https://www.askmehelpdesk.com/showthread.php?t=739904)

  • Mar 19, 2013, 07:14 AM
    kaylalou
    Selling vacant land in Germany
    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?
  • Mar 19, 2013, 07:25 AM
    AtlantaTaxExpert
    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.

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