Tax Implications for US Citizens

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Tax Implications for US Citizens

North America Real Estate Join the North America property forum today to discuss real estate with like minded investors interested in the various regions of the US and Canada. This dedicated US Property forum has arisen due to member demand which seems to be a reflection of the housing market in The States. Many investors outside of the US are speculating on the potential of the American property market. Find out what is being said...

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Tax Implications for US Citizens

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26-04-2007, 03:26 PM

sdhir

Junior Member

Join Date: Apr 2007

Posts: 2

Tax Implications for US Citizens

If US Citizens profit from property transactions outside of US then what is their tax liability?
For example if they buy in Canada and sell it at profit, do they pay taxes in Canada under Canada's tax law or do they pay in US under US tax law?
Same question arises when Canada is repalced by any other real estate investment destination.
Perhaps a new forum regarding the tax implications for various destinations should be started to gain insights from investors who have experienced this unavoidabkle problem.

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