I am us citizen living abroad, with permanent residency status in Costa Rica. In 2001 purchased a corporation, the sole asset of which was a government lease on a beachfront property.
I built my house on that lot and ran my foreign business until May, 2022. I sold it (the stock, which by 2022 had acquired many more assets, eg, house, automobile, funiture) for $250,000. It was my only home. Of course in 21 years, I have spent at least that much for initial building, improvements, etc. I have no income other than Social Security benefits ($12,000 per year gross), I file a 1040 every year, and have not had to pay US income tax for many years.
Will I be liable for capital gains taxes, considering I will need to find housing with the proceeds of my sale of stock? Thank you.
