How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Lane Your Own Question

Lane
Lane, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 3154
Experience:  Providing Financial & Tax advice since 1986
Type Your Finance Question Here...
Lane is online now
A new question is answered every 9 seconds

Questions: 1. Can you buy and sell real estate without

Customer Question

Questions:

1. Can you buy and sell real estate without a Tax ID number for non-resident?

2. I have buy property and i am not a US citizen, my accountant told me
to go to IRS to get a Tax ID number in person? does this make sense?
should't i already have a Tax ID if i have already buy property in USA?
Submitted: 9 months ago.
Category: Finance
Expert:  Lane replied 9 months ago.

NPVAdvisor :

Hi

Customer:

hello

NPVAdvisor :

THe reason you need the tax ID number is XXXXX selling property is a taxable event

NPVAdvisor :

Buying the property gave you a tax basis

NPVAdvisor :

but now that you are selling?

NPVAdvisor :

you will need to report the gain (difference betwen sales price and your basis, and pay the associated tax

Customer:

property already sold 18 month ago

NPVAdvisor :

Woops

Customer:

escrow hold me 10% since i am not US Citizen

NPVAdvisor :

OK

NPVAdvisor :

let me show you a link

Customer:

to be summary

Customer:

my enlgish not good

Customer:

english

Customer:

do i need a tax id?

NPVAdvisor :

Yes, you will need to do a Non-resident tax form to report the gains

NPVAdvisor :

  • A nonresident alien individual not engaged in a trade or business in the United States with U.S. income on which the tax liability was not satisfied by the withholding of tax at the source.

NPVAdvisor :

That bullet point describes one of the situations where a return must be filed

Customer:

when i sell the property i should have the tax iD already right?

NPVAdvisor :

and one cannot file a return without this tax ID number

NPVAdvisor :

We;; you will need to report the sale FOR the year in which it occurred

Customer:

so i can buy and sell property but when coming to sell, then i need to get tax id to report whether gain or loss right

NPVAdvisor :

So what calendar year?

Customer:

18 month ago

NPVAdvisor :

that's tight

NPVAdvisor :

right

Customer:

can we get the tax id online?

Customer:

my accountant told me i must do it in person

NPVAdvisor :

I think he probably meant it can't be done online

NPVAdvisor :

however, it can be done through the mail

NPVAdvisor :

let me get the form for you

Customer:

my accountant mail many time got rejects so told me go in person

NPVAdvisor :

Form W-7

Customer:

does this make sence

NPVAdvisor :

that certainly would help to make things more efficient

NPVAdvisor :

they can tell you right there what's needed and whether the form is complete

NPVAdvisor :

you can send in the return for the year you aodl ALONG WITH the W-7

Customer:

what are reason IRS will not issue tax ID

NPVAdvisor :

fo go apply for the Tax ID first

NPVAdvisor :

then send in the return

Customer:

i do not understand can u repeat

NPVAdvisor :

insufficient identification is probably the main one .... let me look at the table for a minute

NPVAdvisor :

Proving your "foreign status" or “identity.” If you submit an original valid passport (or a certified copy from the issuing agency), you do not need to submit any other documents to prove your “foreign status” or “identity.” Otherwise, you must submit at least two of the documents listed in the chart below. The documents must be current*, verify your identity (that is, contain your name), and support your claim of foreign status. At least one document must contain your photograph, but a photograph is not required if documents are submitted for a dependent under age 14 (under age 18 if a student). Do not attach expired documents.

NPVAdvisor :

This is all in the instructions that I linked for you above ... but here's the chart of things you can use

NPVAdvisor :

well, first .... DO you have a passport?

Customer:

yes

NPVAdvisor :

then you will be fine

NPVAdvisor :

I thing, especially if your english is not good, you will have better luck applying inperson

NPVAdvisor :

They can help you with te form ... just be sure to tak the passport

NPVAdvisor :

Can your acc**tant have yu return ready?

Customer:

i think so

NPVAdvisor :

here are the things that are needed:

NPVAdvisor :



How To Apply





Your application must include all of the following.




Note.


If you submit a Form W-7, all later ITIN notices and correspondence that you receive will be in English. If you prefer to receive them in Spanish, please submit Form W-7(SP).





  1. Your completed Form W-7.




  2. Your original, valid tax return(s) for which the ITIN is needed. Attach Form W-7 to the front of your tax return. If you are applying for more than one ITIN for the same tax return (such as for a spouse or dependent(s)), attach all Forms W-7 to the same tax return. After your Form W-7 has been processed, the IRS will assign an ITIN to the return and process the return.



NPVAdvisor :


  1. The original documents, or certified copies of these documents from the issuing agency, that support the information provided on the Form W-7. The supporting documentation must be consistent with the applicant's information provided on Form W-7. For example, the name, date of birth, and country(ies) of citizenship must be the same as on Form W-7, lines 1a, 4, and 6a.




You can submit copies of original documents if you do any of the following.





  • Have the copies certified by the issuing agency.




  • Have the officers at U.S. Embassies and Consulates overseas provide certification and authentication services. Contact the Consular Section, American Citizens Services of the U.S. embassy or consulate in advance to determine the hours of operation for these services.




NPVAdvisor :

Now, here are the two ways you can apply in person

NPVAdvisor :
In person. You can apply for an ITIN by bringing your completed forms and documentation to any IRS Taxpayer Assistance Center in the United States or IRS office abroad. Designated IRS Taxpayer Assistance Centers will be able to verity passports and National ID documents and return them immediately. Information on our overseas offices can be found in Pub. 1915 or at IRS.gov.
NPVAdvisor :

and

NPVAdvisor :

Through acceptance agent. You also can apply through an acceptance agent authorized by the IRS. An acceptance agent can help you complete and file Form W-7. To get a list of agents, visit IRS.gov and enter “ acceptance agent program ” in the search box at the top of the page.

Customer:

but most list of agents, unless i let them do my tax they are not willing to just apply the tax id for me

NPVAdvisor :

Ican look up the closes acceptance center if you like

Customer:

yes chino hills, ca

NPVAdvisor :

as long as you have the taxes prepared when you go to the IRS office along with your valid passport you should be find from there

Customer:

but is that true they only will apply iD for me if i am their clients in account to file tax

NPVAdvisor :

ok just a sec

NPVAdvisor :

not if you go to an IRS assistance center

NPVAdvisor :

Here are the California Offices:

Customer:

so if i go to assistant center they can help me so i do not need to go to IRS office

NPVAdvisor :

These ARE IRS offices, but for the purpose of prividing assistance in getting things done for you

Customer:

is this office iRS also

NPVAdvisor :

the assistance centers?

Customer:

so going here will be same as IRS office

NPVAdvisor :

yes they are sponsored by IRS ... they are not IRS field offices ... they are offices open to the public for providing services such as helping you apply for the w-7

Customer:

FREE?

NPVAdvisor :

IRS TAXPAYER ASSISTANCE Center

Customer:

Is IRS TAXPAYER ASSISTANCE Center free service?

NPVAdvisor :

You know, I;ve always assumed so ... let me check

NPVAdvisor :

this is from that list of free services:

NPVAdvisor :

Taxpayer Assistance Centers


IRS Taxpayer Assistance Centers are available to taxpayers who believe their personal tax issues cannot be handled online or by phone, and who need face-to-face assistance. IRS representatives can help with inquiries, adjustments, letters and notices and payment plans for those who owe taxes and cannot pay in full. Locations are posted by state on IRS.gov under the ”Individuals“ tab by clicking on the Contact My Local Office link. A message detailing operating hours and addresses is also available by calling the number in local phone directories.


All IRS Taxpayer Assistance Centers provide help to non-English-speaking taxpayers through an interpreter service.

NPVAdvisor :

So ... yes

Customer:

thank you so much

NPVAdvisor :

you are very welcome

NPVAdvisor :

I think they are exactly what you need

NPVAdvisor :

f this HAS helped, I would appreciate a feedback rating of 3 (OK) or better … That's the only way they will pay us here.

NPVAdvisor :

HOWEVER, if you need more on this, PLEASE COME BACK here, so you won't be charged for another question.

NPVAdvisor :

And feel free to ask for me

NPVAdvisor :

Lane

Customer:

thanks

Lane, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 3154
Experience: Providing Financial & Tax advice since 1986
Lane and 2 other Finance Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany

    Tutor

    Satisfied Customers:

    1885
    More than 5000 online tutoring sessions.
< Last | Next >
  • http://ww2.justanswer.com/uploads/BU/BusinessTutor/2012-2-2_115741_Kouki2.64x64.jpg Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany

    Tutor

    Satisfied Customers:

    1885
    More than 5000 online tutoring sessions.
  • http://ww2.justanswer.com/uploads/RA/rakhi.v/2012-7-3_14374_RakhiVasavadaL.64x64.jpeg Rakhi Vasavada's Avatar

    Rakhi Vasavada

    Financial and Legal Consultant

    Satisfied Customers:

    1853
    Graduated in law with Emphasis on Finance and have have been working in financial sector for over 8
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg Megan C's Avatar

    Megan C

    CPA, CMA, CFE

    Satisfied Customers:

    1051
    Licensed CPA, CFE, CMA who teaches accounting courses at Master's Level
  • http://ww2.justanswer.com/uploads/JK/jkcpa/2011-1-16_182614_jkcpa.64x64.jpg JKCPA's Avatar

    JKCPA

    CPA

    Satisfied Customers:

    836
    Bachelors degree and CPA with Accounting experience.
  • http://ww2.justanswer.com/uploads/starside8/2010-2-16_55433_DSCN1175.JPG Eric's Avatar

    Eric

    Financial Manager

    Satisfied Customers:

    558
    Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.
  • http://ww2.justanswer.com/uploads/FA/fastfile/2011-12-15_23139_Klein2011small.64x64.jpg R. Klein, EA's Avatar

    R. Klein, EA

    Accountant

    Satisfied Customers:

    394
    Intuit Ask a Tax Expert. QuickBooks Certified Pro Advisor (all editions)
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    313
    NASD Licensed Rep, 1997-2001, Business Attorney