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NY home sale issue


michaelmars

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I don't think there is anything that could be done with this but I am throwing it out here.

Client moved to US in 2009. Just sold his home in foreign country. It doesn't qualify for home sale exclusion but the foreign tax credit on taxes paid in other country wipe out his tax here.

Been filing as a NY resident since 2009. I don't see a way to avoid the NY taxes on this sale. If the foreign country was Canada he could get a resident tax credit but its not.

At this point we are paying the taxes but would be a real hero if I can find an exclusion and amend his return next week when things slow down.

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