Sale Of House In Bangkok

[Pushit]

My friends Thai wife currently living in the USA on Green Card would like to sell her house in Bangkok.

Can any forum members please advise on transferring house sale proceeds to the US.

Any taxes incurred

Where to convert Baht to US$ in Thai or US

Any other info?

Thank You

[hhgz]

"Can any forum members please advise on transferring house sale proceeds to the US."

SWIFT

"Any taxes incurred"

Depends upon type of housing, and length of time that it was owned.

"Where to convert Baht to US$ in Thai or US"

Thailand

[wpcoe]

She would be subject to IRS capital gains tax on the property, even though it may have been bought with Thai money (i.e. money that was not earned in, nor brought into, the USA). US citizens are taxed on their worldwide "income." Any net profit from the sale of real estate is "income."

As hhgz mentioned, amount of tax depends on type of housing (e.g. personal residence vs investment) and length of time owned (short-term vs long-term), among other factors.

[hhgz]

FYI: Thai Real Estate Sales Tax