Donate SIGN UP

Usa Capital Gains Tax

Avatar Image
thugulike | 08:33 Sat 24th Dec 2022 | Business & Finance
6 Answers
I am a UK citizen and resident. In March 2021 I sold a house in Florida which I had owned for 10 years. I do not have a US Social Security number or bank account. Will I have to pay tax and what will happen? I would appreciate answers from people who know rather that people who guess. TIA
Gravatar

Answers

1 to 6 of 6rss feed

Best Answer

No best answer has yet been selected by thugulike. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
This is a UK site, so I think there may not be many people here who have the experience or knowledge to help.
Question Author
Thanks Bobbin. The site has been useful but it relates to USA citizens. I don't know when the IRS will contact me or how or what is likely to happen if I don't pay. It's a difficult topic. I can't offer to pay as I have no reference number
The answer that you're looking for is likely to be in one or both of these documents but, rather than me trying to make sense of it all, I'll leave it for you to read through:
https://www2.deloitte.com/content/dam/Deloitte/us/Documents/Tax/us-tax-taxation-of-foreign-nationals-by-the-us-2022.pdf

https://expattaxprofessionals.com/blog/article/capital-gains-tax-nonresident-aliens
-- answer removed --
Question Author
Thanks Buenchico I knew I could rely on you. It seems I have exemption under the 183 residency rule. I will have to declare under UK HMRC regs but as I have £90+k capital property loss to carry forward there will be no tax to pay. The right answer is much appreciated

1 to 6 of 6rss feed

Do you know the answer?

Usa Capital Gains Tax

Answer Question >>

Related Questions

Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.