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-   -   Moving to Texas, selling house in Scotland. (https://britishexpats.com/forum/usa-57/moving-texas-selling-house-scotland-672894/)

Bomjeito Jun 17th 2010 9:05 pm

Moving to Texas, selling house in Scotland.
 
I am sure some have had the experience, so I'll ask.

We are selling our house in Scotland - so far, no buyers. So we will be moving to the USA prior to selling.

Once setting foot in the USA, my husband becomes a Permanent Resident, and the house is in his name.

Is he now liable to US Government for real estate capital gains tax?

Thanks in advance for any experience of folks who become PRs and then sell their house back in the UK.

Ray Jun 17th 2010 9:36 pm

Re: Moving to Texas, selling house in Scotland.
 

Originally Posted by Bomjeito (Post 8639671)
I am sure some have had the experience, so I'll ask.

We are selling our house in Scotland - so far, no buyers. So we will be moving to the USA prior to selling.

Once setting foot in the USA, my husband becomes a Permanent Resident, and the house is in his name.

Is he now liable to US Government for real estate capital gains tax?

Thanks in advance for any experience of folks who become PRs and then sell their house back in the UK.

yes if you tell them

dunroving Jun 17th 2010 9:42 pm

Re: Moving to Texas, selling house in Scotland.
 

Originally Posted by Bomjeito (Post 8639671)
I am sure some have had the experience, so I'll ask.

We are selling our house in Scotland - so far, no buyers. So we will be moving to the USA prior to selling.

Once setting foot in the USA, my husband becomes a Permanent Resident, and the house is in his name.

Is he now liable to US Government for real estate capital gains tax?

Thanks in advance for any experience of folks waho become PRs and then sell their house back in the UK.

Have you considered dropping your price? Who told you what it was worth? (don't say a realtor)

mabozar Jun 17th 2010 10:41 pm

Re: Moving to Texas, selling house in Scotland.
 

Originally Posted by Bomjeito (Post 8639671)
I am sure some have had the experience, so I'll ask.

We are selling our house in Scotland - so far, no buyers. So we will be moving to the USA prior to selling.

Once setting foot in the USA, my husband becomes a Permanent Resident, and the house is in his name.

Is he now liable to US Government for real estate capital gains tax?

Thanks in advance for any experience of folks who become PRs and then sell their house back in the UK.

Keep your house you will regret it honestly!
Carol

Mummy in the foothills Jun 17th 2010 11:22 pm

Re: Moving to Texas, selling house in Scotland.
 

Originally Posted by mabozar (Post 8639819)
Keep your house you will regret it honestly!
Carol

:thumbup:

Bomjeito Jun 18th 2010 10:43 am

Re: Moving to Texas, selling house in Scotland.
 
Carol, can you elaborate why? Thank you.

TimNiceBut Jun 18th 2010 12:47 pm

Re: Moving to Texas, selling house in Scotland.
 
These moves don't necessarily work out for everybody, if it doesn't you've still got your house to come back to instead of starting at zero again.

Zonie Jun 18th 2010 3:28 pm

Re: Moving to Texas, selling house in Scotland.
 

Originally Posted by Bomjeito (Post 8639671)
I am sure some have had the experience, so I'll ask.

We are selling our house in Scotland - so far, no buyers. So we will be moving to the USA prior to selling.

Once setting foot in the USA, my husband becomes a Permanent Resident, and the house is in his name.

Is he now liable to US Government for real estate capital gains tax?

Thanks in advance for any experience of folks who become PRs and then sell their house back in the UK.

If the house in Scotland is your only house you will not be liable for tax in the UK or US. You may be liable for the tax if you own two homes.

http://www.irs.gov/businesses/small/...=98921,00.html


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