I have a mortgage on my house and I also have an investment property (so I'm registered for income tax)
If I go to live in the U.S. and subsequently decide to sell both my properties here I know I'd have to pay CGT on the investment property but, would I also have to pay tax on the sale of my house? (PPR)
And do I have to declare the irish rental income in my U.S. taxes?
If I go to live in the U.S. and subsequently decide to sell both my properties here I know I'd have to pay CGT on the investment property but, would I also have to pay tax on the sale of my house? (PPR)
And do I have to declare the irish rental income in my U.S. taxes?
No CGT paid on a PPR (if it has always been a PPR. If it was not a PPR at some stage then calculated as the ratio of time as PPR (+final 12 months as a grace period) to total time of ownership) [lots of info and examples of this around on AAM].
Not big up on tax issues from change of residence etc. so I'll let someone who knows fill you in on that issue.