Capital gains on US property?

Member since 05 December 2022

Tia MarlaMember05 December 2022 18:01:41

If an expat becomes a resident OR citizen of the DR and sells rental property in the US, does the DR want capital gains from THAT US property? Very curious to know this answer.

the second part of this question is this: the US long term capital gains is 0% if you make under a certain amount t of ordinary income. Since most of our income is from rental property, the US Capital gain should be zero.

Concerned about getting hit for the 15% capital gains in the DR if we sell our US rentals (should we become residents)…

Help!?

planner Dominican Republic Expert

Member since 27 December 2010

Dominican Republic Expert

plannerDominican Republic Expert05 December 2022 18:53:04

17344

Welcome to the forums. You should have zero tax implications here in the DR. It's taxable there. When moving the money to the DR you only need to show how you got it, source of funds. That would be sale of assets and it's for money laundering purposes, not taxation.