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Where Taxpayers and Advisers Meet

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by paulg13
Thu Oct 10, 2019 10:21 pm
Forum: Capital Gains Tax, CGT
Topic: CGT Eligibility Test on Sale of Property
Replies: 2
Views: 4844

Re: CGT Eligibility Test on Sale of Property

Thanks for your response which matches what I thought, but was uncertain about.

I also think you are right about the IRA being annoyed that I did not report the sale, although according to Publication 523 you do not need to report a home sale if there is no gain to report.
by paulg13
Wed Oct 09, 2019 8:38 pm
Forum: Capital Gains Tax, CGT
Topic: CGT Eligibility Test on Sale of Property
Replies: 2
Views: 4844

CGT Eligibility Test on Sale of Property

Hi My wife and I who are UK citizens have just received a huge tax demand from the IRS based on an unreported gain from a property sold in 2017. We were living and working in the US between 2014 and early 2018 and were resident aliens. The tax demand relates to a property in which we lived and owned...

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