Information for Resident Aliens - scroll through the list for additional information
https://www.irs.gov/individuals/international-taxpayers/resident-aliens
If you meet the rules for resident alien, then it appears you are pretty much taxed the same as a U.S. citizen. Assuming that is the case, the sale of your farmland in another country would be taxed in the U.S..
Sales Price $xx,xxxx
Less commission
and other expenses of sale ( x,xxx)
Less cost or purchase price ( x,xxx)
--------------------
equals gain or loss on sale x,xxx
Assuming you would be taxed the same as a U.S. Citizen, it would be included in your world wide income. Gain should be taxed as long-term capital gain.
If you pay taxes to the country the land is located in on the sale or gain on sale, you should be able to utilize foreign tax credit as well on the U.S. Taxes.
I would also look into whether there are any treaty exclusions/benefits, etc., between the U.S. and the country the land is located in.
**Disclaimer: Effort has been made to offer correct information; but due to the discussion forum limitations, the poster disclaims any legal responsibility for the accuracy of the poster's response**
