US TAXATION on worldwide income - Reinvestment of capital gains from sale of land in buying a house(India)?

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country india , moved usa on 14 month tempoarary assignment. have arrived in may , earning salary duties perform. filing tax return in usa resident alien. have sold land in india while in usa 20k , reinvested proceeds of 18k in purchasing house in india within 6 months after sale of land.

assuming both transactions happened in same tax year of usa how capital gains taxed in usa when report world wide income.? diffrence of 20-18=2k taxed or indian taxation rates apply source income based out of india or taxed entire 20k?

i country india , moved usa on 14 month tempoarary assignment. have arrived in may , earning salary duties perform. filing tax return in usa resident alien. have sold land in india while in usa 20k , reinvested proceeds of 18k in purchasing...


Business & Finance Taxes United States Next



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