h0250722
Level 3
04-14-2021
08:22 AM
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One of my clients has sold his rental property in Germany (which we had listed as Schedule E many years and declared income/expenses) at a taxable gain of about 400,000.
There is enough tax credits for income tax.
How about the NIIT? I assumed that (because he is US citizen and resident) he is liable for NIIT and there is no exclusion availabe for him for NIIT. Correct?
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