What are the rules for taxation of foreign real estate?

In California, the taxation of foreign real estate is governed by the international tax law that is in place. This law is designed to ensure that money earned abroad is taxed appropriately by the state. When it comes to foreign real estate, the basic rules are that any income earned from the property must be reported to the IRS. This includes income from the rent or sale of the real estate. This income must be reported as income on the individual’s tax return, regardless of where the income was earned. In addition, any foreign income that is received must also be reported to the IRS. This includes dividend payments, interest payments, and other forms of income. This income is then subject to taxes just like domestic income. Finally, if the foreign real estate is sold, the proceeds from the sale must be reported to the IRS. Any capital gains or losses will be subject to taxes. In conclusion, the taxation of foreign real estate in California is governed by international tax law. This law requires that any income earned from the property be reported to the IRS, and that any capital gains or losses from the sale of the property be subject to taxes.

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