When foreigners sell U. S. property, the Foreign Investment in Real Property Tax Act (FIRPTA) may require what percentage to be withheld from the sale proceeds?
A) 3 1/3%
B) 5%
C) 10%
D) 13%

Question

Quizplus · Accepted Answer

The Foreign Investment in Real Property Tax Act (FIRPTA) requires a withholding of 10% from the sale proceeds of U.S. real property sold by foreign persons. This withholding serves as a way for the U.S. government to ensure collection of taxes on the gains from the sale.

When Foreigners Sell U