Does FIRPTA treat commercial real estate differently from residential property?
I own a small strip mall in Texas through my foreign-owned LLC and I'm thinking about selling. Most of the FIRPTA information I find online talks about houses and condos. Are the rules different for commercial property? Specifically — does the $300K exception apply to commercial sales? Are there any special withholding rates or rules for commercial real estate?
The property is worth about $2M and I've owned it for 8 years. I'm a citizen of Singapore.
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