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CaboLisa

Dec 7, 2016, 8:32 AM

Post #1 of 3 (7401 views)

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Capital Gains on House Sale for Residente Temporal

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We currently hold Residente Temporal status and we own a condo, have a mexican bank account, etc. Do we have to pay capital gains tax on the sale of our condo?



YucaLandia


Dec 7, 2016, 1:13 PM

Post #2 of 3 (7383 views)

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Re: [CaboLisa] Capital Gains on House Sale for Residente Temporal

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Maybe.

It's best to talk with the Notario who would handle the sale, because it's the Notario who decides if you qualify.

There are a number of questions that have to be answered to say what gains taxes you would owe. For example. How long have you held the property.

There are some details here:
https://yucalandia.com/...ital-gains-notarios/
and
here:
https://yucalandia.com/...-mexican-properties/

Happy Trails, steve
-
Read-on MacDuff
E-visit at http://yucalandia.com

(This post was edited by RickS on Dec 7, 2016, 9:45 PM)


minga

Dec 25, 2016, 10:09 PM

Post #3 of 3 (7227 views)

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Re: [CaboLisa] Capital Gains on House Sale for Residente Temporal

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In order to be exempt from capital gains, the property has to have been your principal residence for at least 5 years. And if you have rented it out, or even rented out a room in it for one night, it is not exempt. How they would know if you had rented it, I couldn't say.
 
 
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