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Updated over 6 years ago on . Most recent reply

User Stats

15
Posts
11
Votes
Cody James Cressey
  • Flipper/Rehabber
  • Spokane, WA
11
Votes |
15
Posts

Tax question on selling a property with a spouse that lives in EU

Cody James Cressey
  • Flipper/Rehabber
  • Spokane, WA
Posted

Hello Friends! :) 

My wife and I are on the title of our condo in Seattle which we want to sell in October in order to use a 1031 tax-deffered exchange for another investment property. The only caviat is that my Wife is from Sweden and she moved back in March 2018. So as of now she is on the "books" in Sweden. I am still on the "books" in the US. My question is two fold: 1. If we sell, will we pay any taxes in Sweden as well? Does anyone have any experience on this being a Citizen of Sweden or another EU country and selling a US property? 2. If we find that leaving her on the title will hurt us greatly in taxes, what is the best way to quit-claim the title completely to me and would this effect the success of the 1031 exchange?

Thanks for any advise or tips!!

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