Hi! I entered the US with a Diversity Visa DV2017. I am considering buying a house in my home country as an investment (and for potential future use for my parents or for myself if I were to return there at some point). But I don't know if this is a good idea in thinking about the path to citizenship and for tax reasons. Also, I am uncertain of whether I will stay forever in the US or will return to my home country when my parents age older, so I want to consider the different scenarios. With this context, my questions are:
1) Does buying a house in my home country threaten getting US citizenship? Will I have to justify why I own a house in my home country and not in the US?
2) What are the tax implications of owning real state abroad? I'm not referring to the income gained through renting it out (that will go in my income tax return); I mean tax implications of owning property itself. I believe I will have to declare the FACTA/FBAR for assets over $100-150K, right? A house in my home country would probably exceed that amount. Will I have to pay the US for owning assets over that amount?
I am a bit lost on this topic to be honest, so I really welcome any feedback. If you are aware of good resources to learn about this please let me know! Thank you!!
1) Does buying a house in my home country threaten getting US citizenship? Will I have to justify why I own a house in my home country and not in the US?
2) What are the tax implications of owning real state abroad? I'm not referring to the income gained through renting it out (that will go in my income tax return); I mean tax implications of owning property itself. I believe I will have to declare the FACTA/FBAR for assets over $100-150K, right? A house in my home country would probably exceed that amount. Will I have to pay the US for owning assets over that amount?
I am a bit lost on this topic to be honest, so I really welcome any feedback. If you are aware of good resources to learn about this please let me know! Thank you!!