Do I have to pay taxes on the US on a property sale out of the country?

October 3rd, 2011 by admin

My father inherited me a piece of land in Nicaragua. I want to sell it and I am planning to wire the money from the sale directly to my bank account in the US. It is about $100k. Do I have to report this money to the IRS? Do I have to pay any taxes on that money?

Thank You,

Real Estate Professionals

Do we have to pay taxes on money from a property sale outside of the USA? My wife who is a legal permanent resident, but not a citizen, sold property she inherited from her father in her home country. If we bring the money to...
Seller carry-back on property sale – how to report on taxes? I have a situation where I sold a property but took on a “seller note” to carry some of the purchase price. How do I report this on my...
How to avoide or reduce taxes on property sale? I own a property in eastern washington (not my main house) it is just an empty piece of land. I bought it for about $34,000 and am now looking...
Do people who rent property have to pay property taxes? I know their rates will be higher because the owner has to pay property taxes but does a renter actually have to pay anything directly to the government?Quick House...
If I lose my home to foreclosure, will I have to pay taxes? I purchased my home in April of 2006 for $675,000, no money down. It is now worth roughly $525,000 and I am facing foreclosure. I have not re-financed and...