resident alien, wire transfer

[ipulat43]

I moved to the US in August 2021 and became a resident alien in 2022. I sold my apartment abroad and transferred my income to my bank account to buy a house in the US. Do I need to report my wire transfer from this sale to IRS and pay tax in the 2022 tax year?

[PattiF]

If you meet the requirements to be able to exclude the gain of a personal residence from capital gains, then you do not need to report the sale of your apartment.

If this was your main home for two of the last five years and your gain on the sale was less than $250,000 for filing single, or $500,000 for a married couple filing jointly, you do not include this on your tax return.

[ipulat43]

Thank you for your answer.

[ipulat43]

Do you know any statement for this condition on the IRS website? If yes, could you attach a link here?

[PattiF]

Please see this discussion about a similar situation.

@ipulat43 

[ipulat43]

Thank you!