Israel Real Estate: The tax implications for U.S. citizens

On The House

In this episode of "On the House", Debbie is joined by Larry Stern, a CPA with extensive expertise in U.S. and international taxation, to delve into the complex financial and tax aspects of purchasing, owning, selling, and inheriting real estate in Israel as a U.S. citizen*. Larry provides valuable insights on real estate taxes, mortgage interest deductions, rental income tax reporting, and the nuances of the U.S.-Israel double tax treaty. Larry answers questions about capital gains, estate planning, and inheritance and addresses important issues that many buyers are unaware of, such as exchange rate issues, tax planning for mixed nationality couples, Foreign Bank Account Reporting (FBAR) when transferring funds for a real estate transaction, and using IRA funds for Israeli-based real estate purchases.

Larry Stern is a Partner in the U.S. Tax Department at Aboulafia, Avital, Shrensky & Co. For further inquiries, you can reach him at [e-mail].

*Israeli tax implications will be covered by experts in Israeli taxation in a future season of "On The House."

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