Selling Foreign Property? Here’s How US Expats Can Minimize Taxes

Selling your home or investment property abroad? As a US expat, you may still owe tax to the IRS — but there are smart ways to reduce or eliminate it.

In this video, we explain:

💰 How to qualify for long-term capital gains rates (0%, 15%, or 20%) instead of higher ordinary rates
📆 The difference between short-term and long-term capital gains and why holding your property for one year plus one day can save you thousands
🧾 How to track your foreign currency exchange rates and property cost basis to calculate your gain accurately
🏡 How home improvements can increase your cost basis and lower taxable gains
🌍 How the Foreign Tax Credit (Form 1116) helps you offset US taxes with taxes paid abroad
⚖️ Why, in most cases, you’ll only pay up to the highest tax rate between the two countries

Key takeaway: If you plan ahead, keep records, and use the Foreign Tax Credit, you can often reduce or even eliminate the US taxes owed on your foreign property sale.

📘 Learn more:
👉 https://www.greenbacktaxservices.com/...

💬 Have questions about selling a home abroad? Ask below or reach out to Greenback’s expat tax experts for one-on-one guidance.

🔷 Website: https://www.greenbacktaxservices.com/
🔷 Check out our Transparent Flat-fee Pricing: https://www.greenbacktaxservices.com/...

Disclaimer: This video is for informational purposes only and does not constitute tax, legal, or accounting advice. The information provided may not apply to your specific situation, and tax laws and regulations change frequently. For advice specific to your circumstances, please consult with a qualified tax professional.