How to deal with domestic assets to maximize benefits before immigrating to the United States?

Question 1: Is there a retrospective period for American inheritance tax?

According to the inheritance tax system in the United States, the tax is levied first and then distributed, that is, the estate administrator or executor must pay the relevant inheritance tax in cash within 9 months after the death of the property owner, and then the estate can be distributed. If you don't have the money to pay taxes, you can apply for an extension of payment, but it can't exceed 6 months. Therefore, in the United States, it is necessary to pay the inheritance tax to the IRS within a certain period of time. If you don't pay in full within a certain period of time, not only will you not get the inheritance, but you may also have to pay a huge fine.

Question 2: I would like to ask, if assets are converted into cash and brought to the United States one after another, is it tax-free?

This depends on whether you are a US tax resident or not. If you are a US tax resident, selling your assets anywhere overseas depends on whether you make money or lose money after selling your assets. If you lose money, you don't need to be taxed. If you make money, you need to pay taxes according to the tax rate of the IRS.

Question 3: As an American green card holder, if he sells his overseas property (for example, in China), is there a tax-free quota?

It says it's 500 thousand. If it's for self-occupation, there's a tax-free quota.

Question 4: If the wife and children do it and the husband doesn't go, is it unnecessary to tax the assets under the husband's name?

Mr. Wang didn't go to America to become a taxpayer. If all the assets are in Mr. Wang's name, there is no need to pay taxes or declare them.

Question 5: Is the loan portion of China real estate taxed according to the net value after sale?

The standard of paying taxes in the United States is based on your house price, not your loan. If you spend 6,543,800+0,000 to buy a house, regardless of the loan of 500,000 or 900,000, if you sell it at the price of 2 million, it means that you need to pay 6,543,800+0,000 capital gains tax. If it is sold for 900,000 yuan and the capital loss is 654.38+10,000 yuan, then there is no need to pay taxes.

Question 6: The woman's income is low. As the main lover, the man is not applicable. Should the woman sell all the value-added properties under her name before landing?

Yes, the woman should sell all the value-added properties under her name before landing and avoid paying capital appreciation income tax in the United States after landing.

Question 7: The woman's income from selling houses is deposited into domestic and foreign bank cards. Should this part of the property be certified and notarized by the bank before landing? Are these assets tax-free?

It is strongly recommended that those who intend to apply for immigration to the United States make a list of all assets before immigration, if possible, as a notarization. Is this part of the property tax-free? Because this part of the property is the income generated by selling the house before you immigrate, that is, before you become a tax resident in the United States, you don't need to pay taxes.

Question 8: Is it tax-free for the man to remit money from China to the woman for buying a house and living after landing?

It is tax-free in principle. Because a foreigner who has no American nationality does not need to be taxed if he gives overseas property to Americans.

Question 9: Do you need to declare the income of life insurance purchased before immigration?

According to the current law, life insurance purchased before immigration does not need to be included in income.

Question 10: Is there a tax-free quota for selling after login?

Under what circumstances can this exemption be obtained? Because of the short landing time, although several suites have been sold, there are still several suites that have not been sold! If the house is sold in accordance with the provisions of the US tax law for self-use residence, the profit from the sale can be fully or partially tax-free, with a maximum tax exemption of $250,000 (and $500,000 if married and an applicant for merger). When the profit exceeds the tax allowance, you need to pay income tax.

The American section of Migrants Home Network has a more detailed explanation on this issue. You can post directly to the immigrant home network to ask questions.