BajaNomad
Not logged in [Login - Register]
Go To Bottom

Printable Version  
Author: Subject: capitol gains on real estate sale
volcano
Nomad
**




Posts: 279
Registered: 3-5-2007
Location: Cave Junction, Oregon and Boca Del Salado area, Ea
Member Is Offline

Mood: always pining to be there

[*] posted on 9-2-2017 at 09:49 AM
capitol gains on real estate sale


if I sold my cabin (fideicomiso) and upgraded to spend a little more with that toward another home under a fideicomiso,,,,,do their laws provide for gringo reinvesting or would I owe the capitol gains tax for non resident non citizen of any status.?
View user's profile
Lee
Ultra Nomad
*****


Avatar


Posts: 2282
Registered: 10-2-2006
Location: San Clemente, CA
Member Is Offline


[*] posted on 9-2-2017 at 10:20 AM


Quote: Originally posted by volcano  
if I sold my cabin (fideicomiso) and upgraded to spend a little more with that toward another home under a fideicomiso,,,,,do their laws provide for gringo reinvesting or would I owe the capitol gains tax for non resident non citizen of any status.?


I would think there's no penalty but don't listen to me or anyone here unless they've done this sort of transaction. You need advice from a MX notario or attorney.




US Marines: providing enemies of America an opportunity to die for their country since 1775.

God Bless Chesty Puller
View user's profile
gnukid
Elite Nomad
******




Posts: 3262
Registered: 7-2-2006
Member Is Offline


[*] posted on 9-2-2017 at 11:00 AM


As Lee states, the Notario must agree to accept the deal, so go to individually interview notarios about your proposal in order to choose which one to work with who will support the transfer of residential property assets. Or you could interview agents and ask them if they have had favorable similar experience with a notario. Other factors such as the amount of time you have in the home, utilities in your name are additional factors. Of course actual gain is a factor as well. If there is no gain there is no issue, and there are formulas for amount to be deducted from gain based on factors such as home much you put into it and appraised value (TBD). If you sell it for the same price you bought it there would be no issue. More than likely it would help if you were actually a TR/PR though theoretically its up to the notario to establish residency and determine if capital gains should be withheld, and as I read the law there is no requirement for the TR/PR to show this. It's more about time. It helps to speak the language. In a recent transaction I witnessed with the Notario, his accountant asked to see evidence of the new home in the form of RFC persona fisica showing the new (other) address in a constancia meaning recent updated SAT official address document which the seller had in possession and this was the final piece that allowed no capital gains to be withheld. This is easily obtained at SAT by going in and making an appointment or doing it online if you have electronic verified access, by showing the new address and entering it as your residency and demonstrating a cobrabante or utility bill even if it is not in your name though generating a RFC persona fisica may or may not require a TR/PR though does require some form of id, you would have to see if they ask you. The RFC # should be in place for at least one year though better if it is longer like 2-3 years of the sale.


The easiest thing to do to ensure success would be to become a formalized resident as TR/PR go get an RFC persona fisica at SAT and wait more than about 18 months to sell. Go buy the new place first. Or sell for no gain. ;-)




[Edited on 9-2-2017 by gnukid]
View user's profile

  Go To Top


For high speed satellite internet in Baja call +1.6197170810 - or click here to email sistemassatelitales@hotmail.com



Tijuana Walking Tours - on Meetup.com


 






All Content Copyright © 1997- Q87 International; All Rights Reserved.
Powered by XMB; XMB Forum Software © 2001-2014 The XMB Group 






"If it were lush and rich, one could understand the pull, but it is fierce and hostile and sullen. The stone mountains pile up to the sky and there is little fresh water. But we know we must go back if we live, and we don't know why." - Steinbeck, Log from the Sea of Cortez

 

"People don't care how much you know, until they know how much you care." - Ivan R. Misner, Ph.D

 

"You can easily judge the character of others by how they treat those who they think can do nothing for them or to them." - Malcolm Forbes

 

"Let others lead small lives, but not you. Let others argue over small things, but not you. Let others cry over small hurts, but not you. Let others leave their future in someone else's hands, but not you." - Jim Rohn







Thank you to Baja Bound Mexico Insurance Services for your long-term support of the BajaNomad.com Forums site.







Emergency Baja Contacts Include:

Desert Hawks; El Rosario-based ambulance transport; Emergency #: (616) 103-0262