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Business, 06.04.2021 02:40 Aprilbtrippin2004

Which statement is correct about the Foreign Investment in Real Property Tax Act (FIRPTA)? A) Foreign sellers must deposit a surety bond with the Internal Revenue Service before putting property on the market for sale. B) A buyer of property owned by a foreign investor is required to withhold tax equal to 5% of the purchase price on all sales by foreign nationals. C) A foreign seller is exempt if the realized amount from the sale of a personal residence does not exceed $300,000. D) Foreign sellers of real property in the United States are exempt from income taxes.

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