Sale of US property

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artistic95
Posts: 27
Joined: Wed Sep 26, 2012 12:27 pm
Location: Lake Wales, Florida,33859

Sale of US property

Post by artistic95 »

I am a resident of Canada, US and Canada dual citizen, selling investment/vacation real estate located in US.
I understand there might be a withholding by IRS of part of proceeds since I am not a resident of US. I do file US tax returns.
Can anyone clarify that?

Also, would your answer be any different if I was only a Canadian citizen, as opposed to dual citizenship, or is residency the factor.

Thank you
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nelsona
Posts: 18676
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

As a citizen, you should be absolved of Withholding regardless of where you live. Why? You answered it yourself: you file taxes in US always. So, don't let anyone withhold if you don't want them to.

A non-US citizen, non-resident of US would have withholding under some circumstances.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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