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Anonymous User

We bought a property in India 2 years ago. What will be the tax implications in US if this property is sold?

As example, say the property is sold for around 2 crore rupees. The interest has been paid on this property since the past 4-5 years and the net gain has been around 1.5 crore ruppees. In this case what is the tax implication in US and how to report it?

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