"nick" <noyvi...[at]cf.ac.uk> wrote:

- quote -

If you are a U.S. citizen or resident you are subject to
U.S. income tax on all of your worldwide income. It sounds
as though you have a short term capital gain from this
transaction. It is subject to U.S. tax. If it is also
subject to tax in Bulgaria, you should get credit against
your U.S. income tax liability for the tax you paid to
Bulgaria.

Katie in San Diego

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

I just sold my flat in Bansko, Bulgaria for 15000EUR. I got
it for 10000 EUR a month ago from www.bgproperty.com.

Not a bad profit for a month.

Do you have similar experiance with Bulgarian properties. I
am now in process of buying 2 houses again from them. It
seems many people are doing it and then seling their
properties on eBay.

More importantly what are the tax implications from buying
and selling abroad. Of corse I don't want the tax man to get
my profit. Any advice please reply to this post.

Nick

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >