What is US IRS tax implication for a US Citizen owned house sale in India?

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must report gain on schedule d. if paid taxes in india, can claim foreign tax credit filing form 1116. read http://taxipay.blogspot.com/2008/03/us-c...

if main home or second home, can exclude profit of $250,000. read http://taxipay.blogspot.com/2008/03/prof...

the home purchased in 2005 , sold in 2008 gain.


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