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Hi all

Just joined and apologies for creating another Capital Gains question thread but I couldn't see one relating to slightly odd situation I'm in with my UK property.

I moved to US in Jan 2010 and had been living in my UK property since 2005. I do not have a greencard but work and reside here so think am classified as a US resident alien.

I am in the process of selling my UK property but am not sure how it will work with US capital gains, as my property was originally shared ownership property. I purchased the first 50% then a couple of years later bought the second 50%. So would the calculation of capital gain be from value when I bought the 100% or combination of the two 50% components? Confused? I am....

Any help or advice is massively appreciated. Just dont get me started on US tax system - no taxation without representation!

Thanks
 
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