Our client lived in Germany for work from July, 2019 - August, 2020. While in Germany, he sold his home that was located in KS. He was assessed FIRPTA tax on the home sale. He is now living again in the US. How does he get a refund of the FIRPTA tax? Is this done through his 2020 tax return, or separately?
The second part to this is that the home that was sold was shown as a rental property on his 2019 tax return, as he rented it out while they lived in Germany.
Is he still eligible to take the Section 121 exclusion for a primary residence? He lived in the home as his primary residence from 2013 until he was transferred to Germany.
The second part to this is that the home that was sold was shown as a rental property on his 2019 tax return, as he rented it out while they lived in Germany.
Is he still eligible to take the Section 121 exclusion for a primary residence? He lived in the home as his primary residence from 2013 until he was transferred to Germany.