A question for us unfortunate US taxpayers here.
I've noticed that in the soon to expire tax breaks that long term CGT is zero for long term gains for those on lower incomes living in the USA. My question is this.
Capital gains tax in the United States - Wikipedia, the free encyclopedia
If you are living overseas and are earning an amount under the Foriegn Income Allowance amount plus rent, do you qualify for the zero rate? If not how is the threshold calculated?
BTW I will also be seeking professional advice, but would appreciate input from someone who might have been in this situation before.