If I buy land/home outside US (in Canada/Europe/Asia), does I have to report on tax returns?. I didn't see any column?. Please let me know how can I show?.
>
>
>
- posted
19 years ago
If I buy land/home outside US, does I have to report on tax returns?. I didn't see any column?
Loading thread data ...
- Vote on answer
- posted
19 years ago
No
-- Phil Marti Clarksburg, MD
- Vote on answer
- posted
19 years ago
There is no requirement to report a purchase whether it is located in the US or outside of the US.
-- Alan
formatting link
- Vote on answer
- posted
19 years ago
No one reports buying land or homes. You ARE required to report the sale of homes or land where ever they are. And you can use the property tax and interest paid as itemized deductions. Nan, EA in LA
- Vote on answer
- posted
19 years ago
Show what? You don't report the purchase of property as INCOME. Primarily because it's NOT income.....
-- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062
formatting link