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BNJ Legacy
Level 1
January 26, 2022
Question

What are the tax considerations for foreign property or developments?

  • January 26, 2022
  • 1 reply
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    1 reply

    R
    RobertB4444
    Level 15
    January 26, 2022

    Purchasing foreign property and investing in foreign property is not a taxable event.  Foreign bank and investment accounts have to be reported to the federal government and any income earned from foreign investments has to be reported on your tax return.

     

    Foreign account reporting info here.

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