Hi friends about US Single Investment Taxation One of my investors asked me a question…
Hey friends
Regarding the taxation of single investments in the US
One of my investors asked me a question today about the U.S. tax that I could not answer: “Is there a tax exemption on the sale of a property (held for over a year) on the profit of the first $ 40?
Link to the original post in the United States Real Estate Forum on Facebook - Works on a desktop computer (To view the post must be members approved for the forum):
https://www.facebook.com/1885945295012997/posts/2186697948271062
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There is a difference between the income tax on the property and the capital gains tax, taking into account that if the property is registered in its first name there is a tax of irs on 15% of the consideration (or 20… never closed on it hah…) that will be offset in the tax filing
I think that if the asset is held for more than a year, then assets can be exchanged, and then there is a tax rebate
AsherTouriel
Have not you ever said that if the asset is held for over a year then there is an exemption?
It's not with me, if you purchased a property in the US and rented it for a year after which the first 40k are tax free, in any case it's always good to consult with a CPA who specializes in taxation in the US if you want I'll recommend one.
Roz RealEstate has some of the taxes we all miss? How do you find that you have no tax if you were hired?
USA + Israel together is 25% capital gains tax
The answer is not clear, I think there is a tax on profit after a year and even a lot ..
Thanks Ido for tagging. I do not quite understand why tax-free.
When a property is recognized - there is a tax in the United States (federal and state)
(Assuming it means a foreign investor), the 897 + 871 clause solves a capital gain in the hands of a foreign investor
Yes, if the property was rented only
AsherTouriel
Eligible for exemption?