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CGT on UK home

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Junior Member
DC

I am a British expatriate living in the US. I am US resdient and pay US tax. I have a house in the UK which was my private residence in the UK until I was posted overseas by my company in 2000. I have since bought a house in the US and now want to sell the UK property. I've heard that the UK property can be treated as a PPR and that I am eligible for the $250/500k exemption because it was my PPR immediately prior to being sent overseas. Is that right?
 


Snipes5

Senior Member
If you lived in the house and owned it for two out of the five years prior to the sale, you are entitled to the exclusion.

The bit about being sent overseas applies to persons in the US military, not private citizens.

Sorry.
 

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