Legal Question in Real Estate Law in California
A U.S. Senior citizen living in California will soon be selling some land purchased many decades ago in a foreign country and having the money wired into her bank account in the United States. Are there any U.S. tax implications upon receiving this money to this woman?
Asked on 3/26/14, 12:04 pm
1 Answer from Attorneys
You better believe there are, and they are way too complicated to deal with in an internet Q&A. You need to consult with a tax accountant who is familiar with repatriation of capital gains earned abroad. Do NOT allow the wire transfer to go through without consulting a good tax person.
Answered on 3/26/14, 12:14 pm
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