MaxPattaya Posted December 18, 2022 Share Posted December 18, 2022 Looking at buying a property in Pattaya or Bangkok. Curious how the capital gains would be treated from America’s perspective. Would I get credit for what was paid to Thailand? Quote Link to comment Share on other sites More sharing options...
eddiejj Posted December 18, 2022 Share Posted December 18, 2022 It depends on your country of residence domestic tax law and the tax treaties. Yes, paying foreign tax could get you credit but again we need to look at the details and what exemptions or reliefs are allowed in your country of residence. Is it actually taxable? Maybe you make a loss. Hopefully not though. As a US taxpayer you might also need to think about the implications of taking on a non-US mortgage or financing. This could lead you to have US taxable foreign currency gains when repaid that are not credited or relieved under the treaty or able to claim credits. Quote Link to comment Share on other sites More sharing options...
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