tax question

[john glenn]

from california. if a current resident alien sells foreign property now, but owned this property years before becoming a resident alien of usa, what are the tax laws?

 

[LdiJ]

from california. if a current resident alien sells foreign property now, but owned this property years before becoming a resident alien of usa, what are the tax laws?

If you are a legal resident of the US, then your world-wide income is subject to us taxes. However, you would get credit for foreign taxes paid, and there may be other options open to you under tax treaties.

You need to see a tax pro. This one isn't a DYI project. You might want to file for an extention, so that you can at least avoid the late filing penalty.