Property

If we sell property in Dominican Republic, do we owe U.S. tax?

Q. We live in New Jersey and own some investment property in the Dominican Republic, which apparently has no tax treaty with the U.S. When we sell, in addition to the Dominican capital gains tax, will we need to pay U.S. and N.J. capital gains taxes?

— Taxpayer

A. There are a few items to consider.

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