what are tax consequ. if I wire money from my US bank to overseas for realestate purchase?

Posted on July 8, 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

This entry was posted in realestate. Bookmark the permalink.

3 Responses to what are tax consequ. if I wire money from my US bank to overseas for realestate purchase?

  1. the tax lady says:
    July 9, 2010 at 4:57 am

    It’s your money. No biggie.
    References :

  2. tro says:
    July 9, 2010 at 5:12 am

    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
    References :

  3. acmeraven says:
    July 9, 2010 at 5:48 am

    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.
    References :