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Old 02-02-2014, 04:36 PM
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Exclamation paid transfer tax deduction on property bought in Spain

Hello,
In 2013 I divorced, cashed out a retirement fund received from the settlement and bought, paying cash an apartment in Spain. I own no other property in the US and only now prepare my move.
1.) Can I deduct the 8% transfer tax paid in Spain for the purchase of the property and any other expenses (lawyer fees...etc)? (some $12k)
2.) Starting with 2014 my sole income will be based on $30k/year alimony. Do I have to pay taxes on it? Should I pay US taxes or in Spain?

Thank you!



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