Sale of condo in Thailand

dlphelps54 · ‎June 6, 2019

I purchased a condo in Thailand in 2010 while on international assignment for $130,000 US equivalent. Itransferred the money for the purchase from my US bank accounts to Thailand. I sold the condo in 2016 for $105,000 US equivalent and transferred the monies from the sale back to my US accounts. Is this money taxable?

PatriciaV · ‎June 6, 2019

No, because you had a loss on the sale of a second home. The IRS considers this to be personal use property, and losses are not deductible. The transfer of funds from the sale is not relevant to your tax return.

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PatriciaV · ‎June 6, 2019

No, because you had a loss on the sale of a second home. The IRS considers this to be personal use property, and losses are not deductible. The transfer of funds from the sale is not relevant to your tax return.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Sale of condo in Thailand