Capital loss in UK and gain in USA – What CGT do I pay?Make Text Bigger
I am selling one of my rental properties in the UK at a loss. Next year I shall be selling my holiday home in Florida at a good profit.
My accountant has confirmed that I will be able to offset the UK loss against the US gain. However, he’s not very clear on whether I would have to pay CGT in the USA.
I’m not back in the US until February and would like some answers before then as I need to plan the sale.
I know some 118-ers have US property (Mark?) Anyone know about UK/US tax arrangements, or recommendations for an accountant who may know?
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