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Financial Planning / Tax Strategies
|Subject: Re: hard one||Date: 2/5/2000 9:11 PM|
|Author: mrgreeny||Number: 27393 of 125005|
<<I bought a house in Australia in 1991 for $84K.
I sold it last year for (after commission etc) $72.5K giving me a large capital lost.>>
Roy "the amazing and amusing tax expert wrote":
<<Right...assuming that you are a US citizen, that the house was either an investment property or rental property and not a personal use property...along with a few other assumptions.>>
I write anew with my assumptions:
o Actually I am not a US citizen - but I have been working in the US at Pixar (I hope everyone has seen Toy Story II by now) for the last 4 years.
o Yes it was an investment property
o Because the Australian dollar fell from $1.20 to $0.67 over the last 10 years I made a capital loss of at least $80K US.
Roy "the flirtatous tax guru wrote":
<<Sure...stop by...leave one question...use us and abuse us...and then just leave. I'm crushed. >>
You're cute Roy - and free!
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