Working in U.S. , selling house in Ireland.

[cuey]

My brother built a house in Ireland 5 years ago. He lives and works in U.S. Has not received any rental income from the house and would now like to sell the house and put the money towards a downpayment on a house in the U.S. What are the tax circumstances for him? Will he be taxed both here and in the U.S.? Any ideas how he can minimize taxes? Thanks

 

[extopia]

US residents are expected to pay tax on worldwide income (including, I am pretty sure, capital gains) - just as Irish residents are. He will receive a credit on his US tax bill for any taxes payable here, and vice versa.

He really needs to be speaking to a US tax advisor, however.