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    rdesai's Avatar
    rdesai Posts: 2, Reputation: 1
    New Member

    Jan 31, 2006, 05:57 PM
    Capital Gains Taxes for an indian non resident alien
    Hi I wanted to find out if I am liable for capital gains taxes on my primary home that I plan to sell. It is the very first house that I have bought. I am an indian citizen and on F-1 visa. India does have a tax treaty with US but I am not sure what the IRS says with respect to capital gains. Can you please help me out. Thank you
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert

    Jan 31, 2006, 07:41 PM
    Well, according to Page 16 of IRS Pub 519, you are not liable for up to $250,000 in capital gains on the sale of your house if you meet the conditions, which are:

    - You must own the house.
    - Have live in it for at least 2 of the past 5 years.

    There are exceptions (see chapter 15 of IRS Pub 17 and Chapter 4 of IRS Pub 519), but they probably do not apply to you.

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