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Hello, my name is ***** ***** I am a licensed California attorney. Although you are in NY, I can answer this as it pertains to Federal tax law. For your first question, the best and most secure way to bring this money into the US is by wiring it to your US bank account from your foreign bank account. The exchange rates will determine what the foreign amount is converted to, but I would have the money wired. For the taxes, I can only provide general advice. You would have to recognize your gain in the property as a capital gain, but you would be able to deduct your basis in that property. It is basically treated like the sale of a US sourced piece of property. The IRS guidance is located here.