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FIRPTA for Argentine Sellers: Selling Your US Property

When an Argentine sells their US property, the sequence is FIRPTA at closing followed by Argentine tax obligations. At the Miami price tier where Argentines operate — often $500K–$1.5M condominiums in Aventura, Brickell, and Sunny Isles — the Form 8288-B withholding certificate is not optional. On a $700,000 Aventura sale, 15% FIRPTA = $105,000 withheld. If the actual tax on the gain is $30,000–$40,000, the certificate releases $65,000–$75,000 at closing rather than after the annual US return.

FIRPTA for Argentine Sellers

Standard FIRPTA applies to Argentine sellers: 15% of gross sale price withheld by the buyer at closing. Example: Argentine sells a Brickell condo for $650,000 purchased for $420,000. Gain: $230,000. FIRPTA withholds $97,500. Actual US capital gains tax at 15%: $34,500. 8288-B certificate: reduces withholding to $34,500, releasing $63,000 at closing. Full FIRPTA guide: FIRPTA complete guide. File the certificate at listing — not at contract — to maximize the chance of receiving it before closing.

Argentine Tax on the US Gain

Argentine tax residents who sell US property must address Argentine tax obligations: (1) Ganancias de capital: Argentine capital gains tax (impuesto a las ganancias) may apply to the same gain. The US-Argentina double taxation agreement provides for coordination. US tax paid can be credited against Argentine tax on the same income. (2) ARS/USD conversion: the gain is calculated in ARS on the Argentine return. Exchange rate movements between purchase and sale dates can produce a very different ARS gain than the USD calculation. (3) Bienes Personales closing entry: after the sale, the US property is removed from the Bienes Personales declaration for the tax year of the sale. The sale proceeds held in a US account may then become a foreign asset declaration.

Repatriation to Argentina

Net USD proceeds after FIRPTA and closing costs: (1) Remain in a US account or wire to a Uruguayan account. (2) Return to Argentina through official channels — declare to ARCA as return of capital from foreign investment. (3) Convert to ARS at the official rate for Argentine use. Many Argentine sellers choose to keep USD proceeds outside Argentina in US or Uruguayan accounts as a continuing hedge against peso risk — reinvesting in another US property or maintaining liquidity in USD.

Guides: Capital Controls & Currency — FIRPTA Guide — Find an Agent

Frequently Asked Questions

What is FIRPTA for Argentine sellers?

15% withheld from gross sale price at closing. Form 8288-B certificate, filed at listing, reduces this to actual capital gains tax owed.

Does Argentina also tax the gain when an Argentine sells US property?

Yes, if the seller is an Argentine tax resident. Ganancias de capital (income tax) may apply. US tax paid is credited against Argentine tax through the US-Argentina DTA.

Should Argentine sellers repatriate sale proceeds to Argentina?

A personal financial decision. Many Argentine sellers keep USD proceeds in US accounts or redeploy into another US property to maintain the USD hedge. Others repatriate through official channels under current ARCA regulations.

When should an Argentine seller file the Form 8288-B?

At listing — not at contract. IRS processing takes 90+ days. Filing at listing gives the best chance of the certificate arriving before closing, releasing tens of thousands in excess withholding at closing rather than months later.