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Manillegirl3007
Level 1

Money received from sale of owned real estate property from another country (philippines)

Is the Money received from sale of owned real estate property from another country (philippines) taxable? The property was sold recently 2019 and my brother who co-owns it with me sent me the money thru wire transfer. Am I supposed to include that in my tax filing next year? Is it even taxable here in the USA when I have owned that property way before I married my American husband? I became a US Citizen just this May 2019. Thank you.

2 Replies
soultax09
Level 5

Money received from sale of owned real estate property from another country (philippines)

As a US citizen you're taxed on your worldwide income....doesn't matter when or how you got the property.

Manillegirl3007
Level 1

Money received from sale of owned real estate property from another country (philippines)

Thank you for the info. Appreciate it. 

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