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Old 08-05-2008, 06:31 PM
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How much US tax do I have to pay on the gain on sale of foreign property in the UK?

I have sold a flat in the UK that has resulted in a quite a large capital gain. I was wondering how I get taxed on this property gain.

Also, I just want to let you know that I had an extension done on the property and had a lot of repair work done as well. Does that have an impact on my gain?

Thank you for any advice!


PS I am a US citizen!



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