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Old 08-14-2010, 01:24 PM
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Selling an inherited apartment

Hi, I'm new to this forum.
I inherited an apartment from my uncle that died. It will be sold soon. This apartment is in Brazil, and I live in the U.S. however, I'm a foreign student with a student visa.

I don't work nor pay taxes in U.S.

Here is my question:
If I receive a wire transfer of $300,000 or more in my bank account here in U.S., would I have to worry about the IRS?
Is there something I need to do, so that everything is legal and in order?

Much appreciated,

Martin



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Old 08-18-2010, 01:14 PM
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Any help would be appreciated.
Anyone?



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Old 08-24-2010, 08:41 AM
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You may be responsible for Taxes in Brazil, in my opinion and you should consult with a Brazilian Tax Expert. Clearly, the US does generally not tax transfers from Foreign Countries of capital, that is the proceeds from the sale of your Uncles Condo.

The sale of your Uncles Condo would generate potential capital gains tax in Brazil, The net proceeds would generally then be remitted to you tax free!

An expert in Brazilian Tax law should assist you with the filing of the Brazilian tax return to capture the gain on sale of your Uncles condo.

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Old 08-24-2010, 10:50 AM
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Thank you!
That makes sense.



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