Foreign Real Estate Purchase

[Sups2022]

Good day friends,

I am thinking of investing in an apartment in Dubai, UAE.
Will purchase of this apartment result in a taxation event under US Income Tax?

If yes, does Turbo Tax allow for the reporting of such foreign real estate purchases?

Your help in getting this clarified is very much appreciated.
Many thanks and regards

Sups2022

[Critter-3 · Accepted solution]

Will purchase of this apartment result in a taxation event under US Income Tax?    NONE. 

Now if this will be used for business or as a rental then reporting the income/expenses will be required on a US income tax return.

[Sups2022]

Thank you Critter 3