Do I have to pay taxes when I immigrate to the United States and buy or sell a house in China?

Many people ignore that we have to pay personal income tax when we sell a house in China. Take Shanghai as an example, the tax rate is 20% of the house price difference. Just because China is a seller's market, this tax is actually paid by the buyer for the seller. Moreover, there is a direct tax treaty between China and the United States, and the tax paid in China can directly offset the tax burden of the United States. So as long as your name is written on the tax bill when you sell the house, you can use it to offset the tax.

In addition, there are tax incentives for buying and selling self-occupied houses in the tax items of the IRS. Specifically, as long as you have lived in this house for two of the past five years as your main residence, you can enjoy the capital gains from selling the house tax-free for both husband and wife's $500,000. It also applies to overseas properties. That is to say, in the first three years after landing, the difference of 3,500,000 yuan between the purchase price and the sale price of the houses owned by new immigrants before being sold in China is tax-free.