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#1
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sell of a house in FranceWhat 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. |
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#2
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| 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.
__________________ This post does not constitute legal advice, nor does it create an attorney-client relationship. Postings are based only on the information provided and you should consult an attorney in your area before relying on information contained in this post. |
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#3
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thankThank 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 |
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#4
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| 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 |
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#5
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Thankthank you snipe |
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