Hi,
I'm irish presently living in Dublin in primary residence that I bought 3 years ago.
I am moving to the states in the next 6 months and plan to rent out my house.
I have been told that I should get my house valued just before I rent it because if I sell it in the future capital gains will be calculated on the Sale price MINUS the value of the home once it became a rental property.
Can anyone confirm if this is true?
I've also been told that if I sell in the the future capital gains tax is calculated on the period that it was rented. e.g PPR 3 years v 3 years rented. Pay 10% capital gains versus 20%
Finally I have been told by someone else that If I can prove I had to move to the states for work reasons I will not have to pay capital gains tax?
All very confusing. Any help would be appreciated
I'm irish presently living in Dublin in primary residence that I bought 3 years ago.
I am moving to the states in the next 6 months and plan to rent out my house.
I have been told that I should get my house valued just before I rent it because if I sell it in the future capital gains will be calculated on the Sale price MINUS the value of the home once it became a rental property.
Can anyone confirm if this is true?
I've also been told that if I sell in the the future capital gains tax is calculated on the period that it was rented. e.g PPR 3 years v 3 years rented. Pay 10% capital gains versus 20%
Finally I have been told by someone else that If I can prove I had to move to the states for work reasons I will not have to pay capital gains tax?
All very confusing. Any help would be appreciated