Selling home

Anyone know if we are subject to the foreigner investment tax when selling home?

Damn that's a good question, I was thinking about going into this not too long ago.

I want to sell my home but realtor said I have to pay foreign investment tax since I'm not permanent residence. Do you mean going into becoming a realtor?

That is an interesting question, because you do pay income taxes. I would say the 15% is with held, then you file with the IRS to get the money back after your file your taxes.

That's why I got my real estate license in CA, I don't trust those vultures. When I applied for my mortgage the officer filled out the paperwork as if I was a "normal" person. He really never knew my status, luckily my DL does not have any special markings.

Your realtor is a dumbass. You are considered a resident for tax purposes after you've lived here for 6 months or more.

So it's either Green Card or substantial presence?

I don't think so...if realtor is saying that tell him to take a hike and sell by owner. Also, if you've been there for 2 years there shouldn't be a capital gains tax either if you use the "primary home" waiver.