Sold House in UK. Questions?
Nov 7th 2011, 6:18 pm
#1
Forum Regular
Thread Starter
Joined: May 2010
Posts: 82
Sold House in UK. Questions?
Just completed on my house sale in the UK today. Have been in the US for over a year now and I am delighted to finally get it off my hands.
I made a loss of £20,000 from the purchase price 4 years ago. When i declare the house sale on my US Tax return will i receive any tax relief on this loss or is it just written off?
Anybody know?
I made a loss of £20,000 from the purchase price 4 years ago. When i declare the house sale on my US Tax return will i receive any tax relief on this loss or is it just written off?
Anybody know?
Nov 7th 2011, 9:22 pm
#2
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,170
Re: Sold House in UK. Questions?
Not sure, but might depend on how long you've owned it, how long you've lived it in etc.
Nov 7th 2011, 10:04 pm
#3
BE Forum Addict
Joined: Sep 2008
Location: Rural Virginia
Posts: 1,076
Re: Sold House in UK. Questions?
Find an accountant who knows the specifics of UK property losses and US taxes . It really stinks when you get a big tax credit and find it is wrong and have to pay it back.
Nov 8th 2011, 4:49 am
#4
Senior Member
Joined: Apr 2008
Location: Manhattan
Posts: 2,913
Re: Sold House in UK. Questions?
www.doug-tax.com
