If I own US real estate directly and die, does FIRPTA become an estate-tax problem too?
I'm a non-US person holding US rental property in my own name (well, in a disregarded LLC). I get that selling triggers FIRPTA. But what happens if I die still owning it? Is there a separate US tax at death, and does the FIRPTA withholding I'd face on a sale have anything to do with that? Trying to understand if direct ownership exposes me on two fronts.
Related Questions
If I die while owning U.S. real estate through my LLC, does my family face FIRPTA AND estate tax?
Morbid question but important. I'm a 62-year-old citizen of Thailand with a rental property in Las Vegas held through a Wyoming SMLLC. My family is all in Thailand. If something happens to me, what ha...
IRC 1445 FIRPTA withholding — does the buyer really hold back 15% of the entire sale price when I sell my U.S. property?
I'm a Mexican citizen and I'm selling a condo in Arizona that I hold through my LLC. The title company said they need to withhold 15% of the gross sale price under IRC 1445. The condo is selling for $...
The buyer says FIRPTA should be 15% of my profit, not 15% of the sales price. Is that right?
I am selling a condo in Florida as a nonresident seller from Germany. The buyer is trying to be cooperative, but they are also using internet summaries that seem to blend final tax with FIRPTA withhol...
I'm selling my interest in a U.S. LLC that owns real estate — does FIRPTA apply to the sale of my LLC membership interest?
I own a 30% membership interest in a Florida LLC that holds two apartment buildings. I want to sell my interest to another investor (who is a U.S. person). The LLC itself isn't selling the properties ...
I'm selling shares of a US company, not real estate — can FIRPTA still hit me?
I'm a foreign investor selling my stock in a US C-corporation. No deed, no closing on a building — just a stock transfer. The buyer's counsel raised FIRPTA and wants some kind of certification from th...
Does holding U.S. real estate through an LLC protect me from FIRPTA? My attorney said it would.
I'm a Brazilian citizen looking to buy rental properties in Miami. My attorney in Brazil recommended I set up a Wyoming LLC to hold the properties, saying it would "protect" me from FIRPTA. But I've b...
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 c...
How does FIRPTA apply to a multi-member LLC taxed as a partnership? Two foreign owners selling property.
My business partner and I (both non-resident aliens from France) own a 50/50 multi-member LLC in Florida that holds a commercial property. We're planning to sell the property next year. I understand F...
Does FIRPTA apply to my rental income, or only when I sell the property?
I own a rental property in Atlanta through my foreign-owned LLC. I've been collecting rent for 3 years. Nobody has mentioned FIRPTA for the rental income, only when I eventually sell. But a friend tol...
My LLC owns U.S. real estate — what is FIRPTA under IRC 897 and how does it affect me when I sell?
I'm a French citizen with a Wyoming LLC that holds a rental property in Texas. I'm thinking about selling the property next year. My real estate attorney mentioned FIRPTA and IRC 897, saying the buyer...
Have a similar question?
ForeignLLCTax members get expert answers with IRS citations. One CPA consultation costs $200+. Full access is $9.99/month.
Become a Member — $9.99/moDisclaimer: All content on ForeignLLCTax.com is created by a tax professional and is provided for general educational and informational purposes only. It does not constitute tax, legal, or accounting advice, and should not be relied upon as such. Every tax situation is different — for advice specific to your circumstances, please consult a licensed CPA, Enrolled Agent, or tax attorney. By using this website, purchasing a subscription, or accessing any tools or services, you acknowledge that no client-professional relationship is established between you and ForeignLLCTax.com or its operators. This website is not affiliated with the IRS.
