is there a TAX for capital gain in Land purchase in United States ?

Question

I am a foreigner thinking of investing in overseas land in US, and wonder if i sell the land in few years to come, and is there a TAX by US government for any capital gain for the land ?

is there any website where i can get this information?

note : I am not presently residing in singapore, and buying land is just part of the investment.,

thanks

Answer 1

You would have to file a 1040NR form, and yes, there would be tax by US government for capital gain on sale of the land. The tax would be 15% of the gain if you held the property for longer than 1 year. But you could possibly get a credit from the country that you live in for any taxes paid to the US.

Answer 2

Yes, there is capital gains tax in the US.

Go to www.irs.gov and enter capital gains in the search engine on the site. You should be able to get the information that you need.

Answer 3

There is a capital gains tax in the US.