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Dual Citizenship and Land/ Lot Purchase


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hilyfe

Im a dual citizen and I inherited lots of land and properties in philippines

So far nobody questioned me about it

 

I have one question though

Do you also declare your income in philippines when filling tax in us?

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SkyMan

Do you also declare your income in philippines when filling tax in us?

Yes but you get a foreign income tax credit for the $97K or so.  But that does increase your taxes on your US income.

Edited by SkyMan
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