US taxes

[Justin Tyme]

I'm brand new here so there might already be a thread. I'm selling a fazenda
and the capital gains will be over $100K. I read where I will have to pay 15% capital gains to the Brazilian govt but I am wondering about any US taxes.
Any replies on any taxes would be appreciated. Also, I have to sell because of a govt project. They are making me sell. Do I still have to pay the Brazilian taxes?

 

[debzor]

I'm brand new here so there might already be a thread. I'm selling a fazenda
and the capital gains will be over $100K. I read where I will have to pay 15% capital gains to the Brazilian govt but I am wondering about any US taxes.
Any replies on any taxes would be appreciated. Also, I have to sell because of a govt project. They are making me sell. Do I still have to pay the Brazilian taxes?

If you are selling your primary place of residence here in Brazil, and you reinvest in another within 6 months, you will not be liable for the CGT in Brazil. Bear in mind that the CGT will only be applied at 15% to the gains as represented on the 2 escrituras, which may or may not be the actual gain.

As it appears you are permanently resident in Brazil, then surely US tax will not apply?

 

[Justin Tyme]

Thanks for the reply.