Residency Status Dictates Tax Treatment Of Gain

June 10, 2006

Q: I am a United States resident alien and German national. I recently sold property in Germany and want to know if it is subject to tax in the United States. If so, which tax and how much? My parents gifted me the property but retained all rights to the property until it was sold. Niessbrauch was the form of ownership. A: To determine if the gain is taxable in …

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