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Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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We are naturalized us citizens. We have a house in a foreign

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We are naturalized us citizens. We have a house in a foreign country. If we sell the house, do we have to pay taxes on the gain in us? If so where do we report it?



Do you currently reside in the US? If not, what country do you reside in?


Is the home you are selling your primary residence?

Customer: replied 8 years ago.
We are currently living in us and our primary residence is in US and we are naturalized citizens.

Hello againCustomer


As a US citizen, you are subject to tax on all of your income, regardless of the source. So if you have a home abroad that you are selling, you would be responsible for capital gains tax on any profit from the sale of that home. This would be reported on Schedule D under long term capital gains, assuming you have owned the home for more than one year.


You may, however, also receive a credit for any tax you had to pay to the foreign country where the home is located, assuming that a tax is due to that country when you sell the home.


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