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    rilopez's Avatar
    rilopez Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 29, 2012, 10:37 AM
    I sold my house in Ecuador to buy a house here do I need to pay taxes to bring the $
    Do I need to pay Taxes if aI bring money from a foreign country to buy a house, I sold a property in my country.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Sep 29, 2012, 12:27 PM
    If you are a resident, you may owe taxes on the GAIN on the sale of the house (unless it qualifies for exclusion because it was your primary home for two of the past five years).

    There are NO transfer taxes for the transfer of the funds.
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