Seeling house in Ireland. US tax implications

[pokerhead]

Hello all. Am seeling house in Ireland and imigrating to US. Am currently tax resident in US (through employer make tax returns in US & Ireland - but pay majority of tax in US). Own house in Ireland. It is my principle residence. Bought 3 years ago as first time buyer. Paid EUR 155K, will sell, hopefully for approx 230K. There is no CGT liability in Ireland. Will there be a US tax liabilty? Advice appreciated. P

 

[Marie]

Hi - Its not clear from your comments on tax status where you have actually lived for the past three years. There is a category 'resident but not ordinarily resident' which you could discuss with the Revenue. Leaflet RP2 provides a broad outline of the features of Residential Property Tax. You can get that from your local Tax offices or:
The Revenue Commissioners,
Residential Property Tax Advisory Service,
Capital Taxes Division,
Dublin Castle,
Dublin 2.
and discuss your situation in detail or the Revenue Helpline at:
(01) 6792777 Extn. 4090, 4304