Good Morning! Thank you for any
Good Morning! Thank you for any information you can provide. I am a US resident with a second home in Italy-purchased in 2017. I have 2 questions both regarding the Italian Capital Gains Tax if I were to sell this property in 2019.1)I see that if you own the property for 5 years you do not have to pay a CGT. Since I am a nonresident and this is my second home, I am assuming I would have to pay the CGT no matter what. Even if I sold the home 10 years after purchase--Is that correct?2)When calculating the CGT, am I able to deduct the cost of revovations, and all expenses related to the property? So if sale price is $300,000 would the CGT be ($300,000-purchase price-expenses associated with property) * 20% Thank you!!!