Hello again everyone,
starting from January 2024 I can file the N400. However, the main concern in requesting the US citizenship or not, is the tax implications.
I basically own an apartment in my country, which was purchased by my parents in 2014 and right after was donated to me. It has a certain value (range 500k to 1M $), hence I am afraid I have to pay high taxes on it. Btw, I am not getting any income from the property. My parents live there.
Question is, if I decided to become a US citizen will I have to pay taxes on it? Or, since it was purchased before US neutralization and do not get income, should I be fine?
thank you !