Mostlylost Posted March 15, 2022 Report Share Posted March 15, 2022 11 hours ago, tomgates said: There is a difference between INCOME and sales of houses. In the US, the sale of a home is reported on a 1099-S. Sale of a home in Mexico does not result in a 1099-S. Nothing is reported to the IRS. You could be opening up a can of worms by reporting a sale transaction for which there is nothing reported on the IRS's end. If you have lived in the house a minimum of 2 years and have a profit of up to $500,000us for a married couple or half of that for a single person, you would owe no tax in the US, so your conscious would be clear. Following the law does not open a can of worms. Violating the law can do a lot more than open a can of worms. Ask anyone who has been audited. 2 Quote Link to comment Share on other sites More sharing options...
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