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- Dec 24, 2012
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Sir
BACKGROUND
1) My wife and I are Canadian, lived and worked and paid taxes in Houston US for last 8 years where we've owned a home, our primary residence, (no other house assets).
2) I'm moving to Qatar in January 2013 next month for a new job where there are no income or property capital gains taxes.
3) Our house is listed for USD430k and has not sold, when sells there will probably be an after fees and costs Cap Gain of USD30k.
QUESTIONS
1) Other than normal Property Taxes and Community Association Fees I assume the only US tax we have to worry about is Capitol Gains on house sale, correct?
2) If we firesale and close sale before I leave US, what will be our tax implication on the house sale?
3) If my wife travels with me in Jan and we sell our house after we leave, ie in Feb, what will be our tax implication on the house sale?
4) If my wife stays in US and moves to me after house sales and closes, what will be our tax implication on the house sale?
Many many thanks for advice! John.
BACKGROUND
1) My wife and I are Canadian, lived and worked and paid taxes in Houston US for last 8 years where we've owned a home, our primary residence, (no other house assets).
2) I'm moving to Qatar in January 2013 next month for a new job where there are no income or property capital gains taxes.
3) Our house is listed for USD430k and has not sold, when sells there will probably be an after fees and costs Cap Gain of USD30k.
QUESTIONS
1) Other than normal Property Taxes and Community Association Fees I assume the only US tax we have to worry about is Capitol Gains on house sale, correct?
2) If we firesale and close sale before I leave US, what will be our tax implication on the house sale?
3) If my wife travels with me in Jan and we sell our house after we leave, ie in Feb, what will be our tax implication on the house sale?
4) If my wife stays in US and moves to me after house sales and closes, what will be our tax implication on the house sale?
Many many thanks for advice! John.
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