Hi PK
Thank you for the quick response and apologies for being in tardy in responding. Here is the answer to some of the information that you requested
(a) Which country was the property located in?
India
(b) How ( purchase/ gift / inheritance etc. ) did you acquire the asset, when did you acquire the asset? When did you dispose off the asset ?
I purchased it. The money handed over to the developer on a schedule from 1998 and the official registered agreement was made in 2006. I disposed of the asset in 2024.
(c) How was the asset used ( as your main home / second home / rental property etc. )? Periods of use ?
My parents lived there for a while. I did rent it out for 10 years or so, declared the rental income on 1040 but never claimed any depreciation on the property, if that is relevant.
(d) What is your immigration status ? If not a citizen, when did you enter this country and with which visa ?
Let me provide as much details as I think may be relevant. I was on a H1-B visa when the sale deed was signed and a green card holder at the time the asset was handed over to me. I am a citizen currently.
Let me know if you need anything else from me.
