All Forum Posts by: Dave Newgass

Hi @Nabil Suleiman,

Yes....I'm a US citizen but live here in the UK.

What do you mean an 'opportunity zone'?  I don't quite follow.

As it sits now, I am getting the rental income, so that's nice.  That actually brings up another question of do I pay income tax for State and Federal or do I pay income tax here in the UK?  It's a tad confusing, really.

Cheers,

Dave

Hello,

I recently inherited a piece of rental property that's located back home in California but I live in the UK.  I am looking to sell the property though so I can invest it in property here in the UK.

Can I do a 1031 exchange by purchasing property in the UK with the money from the sale of the rental?  Obviously, I want to pay as little tax on the sale as possible but don't know how to go about this.

Any thoughts?

Many thanks,

Dave

Hello,

My Step-Dad passed away and has left me a house in California from his trust.  I live am a UK resident (but still a US citizen).

The house is currently rented to a tenant that has lived there about 10 years now and I have no reason to immediately sell the house but that is the goal by the end of the year.

My initial questions are regarding handling paperwork while I am still in the UK with regards to signatures, banking, etc.  Is there some way to give my sister power of attorney for handling some of the paperwork, etc?  I'm really lost at what to do initially and am looking for some advice.

Also, I am clueless as to what to do about taxes. (property and income)  Are there any resources anybody can point me towards or offer some advice and direction?

Thanks for the look in!

Cheers,

Dave