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    nate77's Avatar
    nate77 Posts: 1, Reputation: 1
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    #1

    Apr 2, 2011, 03:55 PM
    Selling House Overseas
    I am selling a house overseas. Do I have to pay taxes here in the United States.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 14, 2011, 02:32 PM
    If the house was NOT your primary home, and if you are a U.S. resident or U.S. citizen, and if you made a capital gain on the sale, then, yes, you DO have to report the sale and you DO have to pay taxes on the capital gain.

    If you need professional help filing your return, email me at [email protected] or [email protected].
    bbdiesel's Avatar
    bbdiesel Posts: 1, Reputation: 1
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    #3

    Apr 28, 2011, 01:50 PM
    Do the same rules apply if the house was received as inheritance? Should I base the gain/loss on the market value at the time of the relative's death? Thank you.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #4

    Apr 28, 2011, 03:17 PM
    Yes, to both questions.
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