What are the legal terms for selling a home in the United States from outside the country? 1 Answers as of July 21, 2011

We are U.S. citizens of Indian origin. We sold our grandmothers home in India. The funds are in tax free bonds for three years, as we would have to pay 22% tax over there. Do we have to file any information in the U.S.? Do we pay taxes in the U.S. when the bonds come due and the funds transferred into our U.S. bank accounts?

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David Hoines Law
David Hoines Law | David Hoines
You need to consult a CPA, as Americans are subject to tax on worldwide income.
Answer Applies to: Florida
Replied: 7/21/2011
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