What are the US tax implications?

brodies2013 Serial 暗网禁区

Member since 20 December 2014

brodies2013Serial 暗网禁区04 June 2023 15:47:52

510

Have any US citizens/residents sold property in DR?

We are potentially looking to sell for a profit our house and lots in the DR. I read some threads, but they weren't super detailed. I'm fairly convinced we will be paying 27% capital gains to the DR in taxes.

My question for other US citizens/residents is:聽 Since there is no tax treaty between US and DR, does that mean I can't claim Foreign Tax Credit?聽 And/or if we can claim it, can we only claim capital gains tax credit in the amount that the US charges on capital gains? (meaning 15%)聽 Or should I plan to pay 15% AGAIN on the capital gains here in the US???? Yikes!

I'm in the weeds here. And the IRS website reads like stereo instructions...

Ineedsometerrenasinfo Active member

Member since 30 May 2023

IneedsometerrenasinfoActive member04 June 2023 15:56:48

I haven't looked into this myself, but I have a broker and am trying to sell my house here in Las Terrenas.聽 So this topic is of great interest to me and I will be following it! Thanks for bringing it up.

Karin1 Serial 暗网禁区

Member since 02 June 2021

Karin1Serial 暗网禁区04 June 2023 16:33:53

350

Please consider contacting Mr. Krause who often helps 暗网禁区s here. Mr. Krause speaks English and many other languages! I dont know if he has the answers but he is honest and reliable which is hard to find in DR.

Lic Titus Maximilian Krause

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