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  #1  
Old 02-23-2004, 12:05 PM
Junior Member
 
Join Date: Feb 2004
Location: texas
Posts: 16

sell of a house in France


What is the name of your state?
Texas.

Selling a family house that is in my name in france that was used by my parents (free of charge) (they moved to an appartment now).
Paying tax on sale in France. Would like to bring the money in the US so we could build a larger home here.
I'm a permanent resident for more than 14 years but not a citizen.
What are the taxe implication if i bring that money in the US? Would i be taxed again?
How do i report that transfer?
thank you for your time.
  #2  
Old 02-23-2004, 10:50 PM
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Join Date: Aug 2002
Location: Washington
Posts: 3,484
You'll be taxed whether you bring the money into the US or not. US residents are taxed on worldwide income. You should report the gains from the sale on Schedule D & then claim a foreign tax credit. See a tax pro for help doing this.
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  #3  
Old 02-23-2004, 11:00 PM
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Join Date: Feb 2004
Location: texas
Posts: 16

thank


Thank You Abezon. is a tax specialist the best approach or a tax attorney? i alway do my tax electronically using these turbo tax program so far. should i search for a specific skilled tax individual or any will do? thank again.
Nmto
  #4  
Old 02-23-2004, 11:15 PM
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Join Date: Aug 2003
Posts: 1,848
An Enrolled Agent is a skilled tax professional, and will charge much less than a Tax Attorney. You can find one in your area by looking on the Web for the National Association of Enrolled Agents.

Snipes
  #5  
Old 02-23-2004, 11:25 PM
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Join Date: Feb 2004
Location: texas
Posts: 16

Thank


thank you snipe
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