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Get your taxes done using TurboTax
Do I have to pay taxes to USA for home or appartament owned for personal use outside of usa? There are no income taxes on any property you own anywhere.
Also If I purchase home overseas I have to transfer my money from US bank to foreign bank and I know I have to report it to FBAR if it is more than 10 000$, but I dont know if USA will tax my foregn bank account which doesn't make money for me and will be used for home purchase. Only income is taxed on an income tax return. Moving money overseas may need to be reported however it is not a taxable event.
‎January 16, 2020
7:23 AM
3,356 Views