Capital loss in UK and gain in USA – What CGT do I pay?

Capital loss in UK and gain in USA – What CGT do I pay?

10:07 AM, 6th December 2017, About 4 years ago 21

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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?

Many Thanks

Ann

 



Comments

by Annie Landlord

9:28 AM, 10th December 2017, About 4 years ago

Reply to the comment left by Nick Pope at 09/12/2017 - 12:14
Thanks for the recommendation Nick


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