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What kind of paper work is needed in an IRS audit on the

Customer Question
sale of a house abroad...
what kind of paper work is needed in an IRS audit on the sale of a house abroad
Submitted: 1 year ago.Category: Tax
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Answered in 13 minutes by:
3/17/2016
Tax Professional: emc011075, Tax adviser replied 1 year ago
emc011075
emc011075, Tax adviser
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Hi. My name is ***** ***** I will be happy to help you.

When it comes to foreign transactions, especially personal transactions, IRS will accept anything that is reasonable. Usually some type of equivalent of a HuD statement, purchase agreement, equivalent of a title transfer or anything that will show the transaction. There's no specific form that IRS requires.

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Tax Professional: emc011075, Tax adviser replied 1 year ago

Because every country has its own laws and taxes, it is not and really cannot be standardized. It is extremely helpful if the supporting document is in English or Spanish, if not you may need to translate it or have the important sections translated by a professional.

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