FIRPTA & Selling House In Vomerica

[andhra_jp]

Seen this post in FB Forum

 

What is FIRPTA? I am on H1B and planning to leave the US mid of this year, so preparing to sell my house. Realtor shared a net sheet (with hypothetical selling price) with me that has 15% FIRPTA withholding. I didn't expect this and as or now I am pretty mad about my little hard earned equity eaten by FIRPTA. Is there a way to avoid it?

One Reply

Rent your home and give it to realtor to take care. Get a visitor's visa to US. Why sell? Sell when mkt is better

[nag]

10 hours ago, andhra_jp said:

Seen this post in FB Forum

 

What is FIRPTA? I am on H1B and planning to leave the US mid of this year, so preparing to sell my house. Realtor shared a net sheet (with hypothetical selling price) with me that has 15% FIRPTA withholding. I didn't expect this and as or now I am pretty mad about my little hard earned equity eaten by FIRPTA. Is there a way to avoid it?

One Reply

Rent your home and give it to realtor to take care. Get a visitor's visa to US. Why sell? Sell when mkt is better

why can't he sell it right away to avoid it

If the seller is a U.S. person (U.S. citizen or resident for tax purposes) and shows proper documentation (like a W‑9 with SSN or ITIN), then FIRPTA withholding does not apply.