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Avoid US tax by selling house before getting green card/visa?

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Filed: Other Country: France
Timeline

There is a chance I may receive my DV visa sometime in March-April 2015 if all goes well. (DV-2015)

I heard I have to pay close attention to US tax laws and should declare all worldwide income and assets to the US taxman.

If I sell my house in July 2015 (after I get my visa), will I have to declare any capital gains to the US taxman?
Do I become a tax resident as soon as I get the visa? Or is it when I enter the US?

I would like to avoid being taxed by the US taxman for the sale of my home.

Your input is welcome.

Thank you,

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There is a chance I may receive my DV visa sometime in March-April 2015 if all goes well. (DV-2015)

I heard I have to pay close attention to US tax laws and should declare all worldwide income and assets to the US taxman.

If I sell my house in July 2015 (after I get my visa), will I have to declare any capital gains to the US taxman?

Do I become a tax resident as soon as I get the visa? Or is it when I enter the US?

I would like to avoid being taxed by the US taxman for the sale of my home.

Your input is welcome.

Thank you,

You start becoming liable for taxes when you become a LPR ie the date you enter using your immigrant visa. Edited by SusieQQQ
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Filed: Other Country: France
Timeline

You start becoming liable for taxes when you become a LPR ie the date you enter using your immigrant visa.

Thanks a bunch for the info.

And I guess you have 1 year to enter the US after you get the visa, right?

If so, I could get my visa, sell my house, then enter the US: that way I wouldn't be taxed by the US.

Regards,

dvorno

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Filed: Timeline

Thanks a bunch for the info.

And I guess you have 1 year to enter the US after you get the visa, right?

If so, I could get my visa, sell my house, then enter the US: that way I wouldn't be taxed by the US.

Regards,

dvorno

Wrong. Your visa will only be valid for six months (sometimes less depending on the outcome of your medical exam or when when the medical was done).

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Thanks a bunch for the info.

And I guess you have 1 year to enter the US after you get the visa, right?

If so, I could get my visa, sell my house, then enter the US: that way I wouldn't be taxed by the US.

Regards,

dvorno

As above, it is maximum 6 months for the visa. You meet the green card test the day you enter on your visa, so that is the day from which you need to file as a resident. So yes you could wait till you get the visa and then hope to have the sale wrapped up before you land.

I'm not entirely clear on this angle in US law to be honest, but if you become a resident, you should also check as to what the date of the tax calculation is. I know in some countries the capital gain would only be calculated from the day you became resident too, so any capital gain over a month or two could be negligible anyway. No idea how this works for the US.

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