Densol

Hi everyone - Seasons Greetings. I am currently on holiday in Arizona, and staying with a chap I met on vacation previously.

our plan

I am staying 85 days - then I go home to UK plus we are vacationing in Europe over the summer etc then Im back to USA in the fall. We then intend to apply for a K1 visa to marry sometime in 2023 when its granted.

I have property x2 in UK - current gains from buying them to current value around £700k. I have to make a choice. Either sell both in next 18 months before I am resident in USA so I only pay UK CGT on my rental property only.
OR
Pull out my equity and let my sons live in each property till I die ( preferred )

I really don't want to pay USA CGT !

I receive a substantial tax free for life injury pension. I understand sec 17 means if its tax exempt in the UK its tax free in the USA. Coincidently my intended also gets a USA injury pension as a 9/11 fire hero.

I’ll post specific Q’s in the relevant forums xx

mikelincs

Welcome to BE.
Please have a quick read of the forum rules https://britishexpats.com/site-rules/ and should you have any site related problems, please contact one of the moderators, names in bold at the bottom right of each forum page.
I have asked that the thread be moved to the USA forum as this one is really only for introductions, and people who might be in a better place to help might not see it.

lansbury

If it was me I would run that past a US tax professional, to make sure the IRS will indeed accept that payment is a pension. The IRS has its own way of interpreting things and nearly always to their advantage.

tom169

You should be able to find a UK/US accountant who can advise on all of this. Given you have over a million USD on the line here, I think it makes sense to spend a % to get some good tailored advice.