@Kostas_matak , having gone through the above and generally agreeing with my colleague @Opus 17 , I am still left with some uncertainty ---- (a) when you say "gifted" , does it mean that the property was transferred to you by your father while he is/was still alive or was the property transferred to you after his death ( if he has already passed) ?; (b) did the sale of the property occur subsequent to your "immigrating" to the USA ( in 2022) ? (c) Was the property rented out at any time from the time the property was in your name till the day the sale of the property was completed / consummated ?; (d) Are you a green card holder or on work visa and if the latter then when did you enter this country ?
Answers to these questions may impact your basis in the property for US tax purposes.
Which is the property in ?
