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Sale of condo in Thailand

Forum|Forum|7 years ago
June 6, 2019
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I purchased a condo in Thailand in 2010 while on international assignment for $130,000 US equivalent. Itransferred the money for the purchase from my US bank accounts to Thailand. I sold the condo in 2016 for $105,000 US equivalent and transferred the monies from the sale back to my US accounts. Is this money taxable?

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Best answer by PatriciaV

No, because you had a loss on the sale of a second home. The IRS considers this to be personal use property, and losses are not deductible. The transfer of funds from the sale is not relevant to your tax return.

PatriciaVAnswer

Employee

No, because you had a loss on the sale of a second home. The IRS considers this to be personal use property, and losses are not deductible. The transfer of funds from the sale is not relevant to your tax return.

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