Hello ALTA members;
In my neck of the woods students are back in school, but do you know what to do if a foreign student owns real property in the U.S. and has been in the country for more than 2, 3 or 4 years?
Even when a foreign student (F1 or other similar visa holder) has been physically present in the country for over 183 days, according to his visa rules he is still considered a NON-RESIDENT for tax purposes and in the case he is trying to sell his property his is subject to FIRPTA.
It is very important to check the tax residence status of all sellers of U.S. real state property before determining if that person is or not considered foreign and therefore FIRPTA compliance rules apply.
Give us a call, we will be happy to help 281 578-1040 or send me an email [email protected]
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Mary Enzi
Tax Solutions – FIRPTA Consulting
Barker TX
+1 (281) 578-1040
[email protected]------------------------------