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    Gaeta's Avatar
    Gaeta Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 2, 2012, 10:01 PM
    Italian-American: real estate
    I hold dual citizenship, 10 yrs ago I sold my home in CT and moved to Italy to a home I inherited with my sibling, (I bought out my sibling's part) If I sell it, and transfer the funds to the USA is there a limit to the amount I can transfer and will I incur any taxes?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 5, 2012, 05:18 PM
    There are no transfer taxes on the U.S. side of the transaction, though you may have to file Form 3520 to explain the source of the funds.
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