Legal Question in International Law in Bahamas
sale of foreign property
does a US citizen selling property in the bahamas have to pay capital gain taxes and is sale reported to US. have lived in house for six years.
Asked on 1/28/08, 10:40 am
1 Answer from Attorneys
David Willig
David S. Willig, Chartered
Re: sale of foreign property
Your issue may require consultation with international tax treaties for appropriate resolution. The U.S. will want to tax that gain, and the Bahamas may also. Our office can assist you.
Answered on 1/28/08, 11:03 am
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