Cgt

F

fmg18

Guest
Living & Working in ROI, move to USA were now working & own house.
Sometime after moving, sell irish home, pay CGT in ROI, and transfer most of proceeds to USA.
Double taxation convention allows to use tax paid here as a credit against tax in US.
My question: What is taxable in USA, amount transferred, or the Capital Gain in ROI .
 
I reckon you need professional advice on this one from somebody with knowledge of both jurisdictions' tax codes.
 
You will need to seek US tax advice on this.

However, I think that you will be liable to tax in the US on the disposal of the Irish property, calculated under US tax rules, but you will receive a tax credit for any Irish tax paid.