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  • 1.  Vacation Home in Greece

    Posted 07-11-2018 11:06 AM
    Client is selling an apartment in Athens, Greece that was purchased many years with funds transferred from USA.  Sale will result in small profit with proceeds transferred back to USA in
    $ 5000.00 increments over many months. There is no tax in Greece.  Is the transaction subject to US capital gains tax laws?


  • 2.  RE: Vacation Home in Greece

    Posted 07-12-2018 07:11 AM
    US has been taxing world wide income so it would be taxable
    If many months covers more than one year, you are doing and installment sale.


    Marvin Gruza CPA
    cpamarv@aol.com



    Original Message


  • 3.  RE: Vacation Home in Greece

    Posted 07-13-2018 11:50 AM
    If the full purchase price came into client's control at time of sale, it is not an installment sale. Need to clarify.  Sounds like client is trying to skirt FBAR and currency reporting requirements. Protect your license.




    Original Message


  • 4.  RE: Vacation Home in Greece

    Bronze Most Valuable Member
    Posted 07-12-2018 10:55 AM
    A US citizen is required to report and pay tax on all their income, both domestic and world-wide

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    Alan Aron
    ALAN ARON, CPA PC
    MELVILLE NY
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    Original Message


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