what are tax consequ. if I wire money from my US bank to overseas for realestate purchase?
July 6th, 2010 | by admin |i want to buy a house so when I live there sometimes, after I retire, do I have to consider tax and any forms I need to file when I do the transaction?
i guess if I sell the house for a profit, then there are tax consequences from uncle sam. of course, since it’s become an investment? , heh?
you want to buy a home in another country? not a problem
however, if and when you sell it, as a US citizen you would be taxed on any gain you made on the sale
3 Responses to “what are tax consequ. if I wire money from my US bank to overseas for realestate purchase?”
By the tax lady on Jul 7, 2010 | Reply
It’s your money. No biggie.
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By tro on Jul 7, 2010 | Reply
you want to buy a home in another country? not a problem
however, if and when you sell it, as a US citizen you would be taxed on any gain you made on the sale
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By acmeraven on Jul 7, 2010 | Reply
What you do with your money is your business until you turn a profit at which point the wise spenders we have in dc will want their cut.
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