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Jacksonville Florida Real Estate Blog

Get latest news and real estate development in Jacksonville, Florida. A real estate blog by Will Vasana, Realtor.

October 09, 2005

Capital Gain for Foreign Investors

Under U.S. tax law, a foreign person who sells or exchanges property interest within
the U.S. must report the gain on a U.S. tax return, and the buyer must withhold and pay to the IRS a percent of the gross amount paid to the foreign person. But as with all things IRS-related, savvy investors seek out loopholes. A fact sheet (FS-2005-16) issued by the IRS, however, describes two techniques used sometimes that the tax service does not consider loopholes, and it encourages all real estate associates involved in international deals to read it. FS-2005-16 can be accessed through the IRS Web site.

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