FIRPTA for Individual Sellers
FIRPTA for Individual Sellers
Buying property in the US as a foreign person usually comes with a few unwanted hick-ups, but selling property is when things can really get messy. Optimistically, you did some research on FIRPTA before you even thought about listing your vacation home or investment property, but more often than not, it can catch you by surprise. Yes, the US government can legally tax you on the sale of your US property, but most countries have similar provisions in place. If you feel confused and overwhelmed, you are not alone! Please contact us and we will be glad you answer your questions and guide you in the right direction.
Why didn’t someone tell me about this sooner?
Does FIRPTA apply to me?
Do I still need to file a tax return?
Does FIRPTA affect my tax return where I live?
Any final words of advice?
Be sure to read our pages on Options to Reduce FIRPTA Withholding here as well as what an ITIN is here. The best advice is to simply have patience. The IRS works on its own timeline and there is really nothing that your advisor can do to hurry them along. Your advisor should still always be in your corner and willing to assist you through the entire process – until all FIRPTA and taxes have been squared away and your money is back in your pocket!
Get Started Now
We listen to our client’s needs.
We are responsive, resourceful and will always take the time to explain our recommendations. Our goal is to be your trusted advisor!