Selling Property in the U.S.
Selling U.S. real property
FIRPTA – No, we did not just hit our keyboards in anger and spell a random word. The sale of a US real property by a Non-Resident Alien is subject to withholding tax under the Foreign Investment in Real Property Tax Act also called FIRPTA.
Non-Resident Aliens selling U.S. real property are liable for any U.S. taxes that result from the sale, and will be required to file a U.S. nonresident income tax return (Form 1040NR) to report the disposition. There are many considerations to be kept — withholding tax and filing the U.S. income tax return. Speak with one of our advisors before the sale date.
At HerrickGlobal, we can give you the peace of mind that comes with knowing you won't face the unknown alone. Our highly trained advisors can handle all your tax filing needs quickly and efficiently. Schedule an appointment today - we look forward to meeting you!