Taxes on selling home in another country.

[jstein86]

What is the name of your state (only U.S. law)? MD

I am currently living in the United States in a townhouse and am looking to sell a home I own in another country. When I sell the home in the other country do i need to pay any taxes on that home in the United States?

Note: I will need to pay taxes in the foreign country on the sale of that home.

Thanks,
John

 

[tranquility]

Yes. However, you may get a credit for the taxes paid to the other country.