Will I owe taxes on the proceeds from the sale of property in a foreign country even though it was sold at a loss?
No. Foreign Capital Loss is treated the same as a Capitol Loss from the sale of property within the US. You report the gain or loss from the sale on Schedule D of your return.
Will I owe taxes on the proceeds from the sale of property in a foreign country even though it was sold at a loss?
No. Foreign Capital Loss is treated the same as a Capitol Loss from the sale of property within the US. You report the gain or loss from the sale on Schedule D of your return.
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