Practice Area · VI.
Real estate tax advisory.
Italian and US property taxation, FIRPTA, cross-border acquisition structuring and rental income compliance — for principals investing across both jurisdictions.
The Practice
Property is a position, not a transaction.
Real estate ownership across borders is rarely a single decision. It involves the choice of vehicle, the financing structure, the long-term tax exposure on rental income and the eventual disposal. We advise principals on Italian and US property holdings — from acquisition through disposal — ensuring that the architecture protects yield, defers capital gains where possible and respects each jurisdiction’s reporting obligations.
Six Workstreams
A practice built on property.
- i.
Italian Property Acquisition.
Pre-acquisition tax structuring of Italian residential and commercial real estate, with imposta di registro and IVA optimisation.
- Imposta di registro 2% / 9% analysis
- Prima casa benefits eligibility
- IVA 4% / 10% / 22% on new builds
- Direct vs holding-company purchase
- ii.
US Property & FIRPTA.
Foreign Investment in Real Property Tax Act compliance under §1445, including withholding analysis and applications for an IRS withholding certificate where appropriate.
- FIRPTA withholding generally equal to 15% of the amount realized
- Form 8288 and 8288-A filings
- Statutory exceptions and reduced-withholding analysis
- Withholding certificate applications
- iii.
Rental Income & Compliance.
Italian cedolare secca, ordinary regime and US rental income reporting under §61 and §469 passive activity rules.
- Cedolare secca 21% / 10% election
- IMU and TARI municipal taxation
- Schedule E and §469 limitations
- Net Investment Income Tax 3.8%
- iv.
Capital Gains & Disposal.
Plusvalenza immobiliare planning under Art. 67 TUIR, US capital gains under §1(h), and §1031 like-kind exchange where applicable.
- Italian five-year rule, including principal-residence and succession exceptions
- Plusvalenza 26% substitute tax option
- US §1031 analysis for qualifying US business or investment real property
- Step-up in basis at death analysis
- v.
Holding Vehicle & Structure.
Direct ownership versus SRL, SCI, US LLC or Delaware C-Corp structuring for Italian and US real estate portfolios.
- Italian SRL immobiliare analysis
- French SCI for cross-border families
- US LLC and disregarded entity
- Blocker corporation for NRA exposure
- vi.
Cross-Border Reporting.
RW quadro disclosure of foreign property, IVIE on foreign real estate and US Schedule E coordination for dual-jurisdiction owners.
- RW quadro for foreign property
- IVIE calculation using the rate and taxable base applicable to the relevant year
- Form 8938 specified asset reporting
- FTC coordination on rental income
Property Lens
Three regimes, one portfolio.
Italy
REGISTRO · IMU
ACQUISITION TAX
2% prima casa · 9% second home · IVA on new builds
RENTAL INCOME
Cedolare secca 21% · 10% concordato
CAPITAL GAINS
Five-year rule subject to statutory exceptions and special provisions
Residential · Commercial · Family second home
United States
FIRPTA · §1031
ACQUISITION TAX
No federal · state transfer tax varies
RENTAL INCOME
Schedule E · §469 passive limits · 3.8% NIIT
CAPITAL GAINS
Federal and state treatment varies · §1031 may apply to qualifying US property
Investment property · Like-kind exchange · Step-up at death
Treaty
US-ITALY 1999
SITUS RULE
Real property taxed where located (Article 6)
CAPITAL GAINS
Taxable in situs jurisdiction (Article 13)
CREDIT MECHANISM
Foreign Tax Credit on residence-state taxation
Source-based taxation · Treaty FTC coordination
Domande frequenti
Fiscalità immobiliare cross-border.
Quando si applica la FIRPTA?
Come viene tassato in Italia un immobile negli Stati Uniti?
Una LLC immobiliare evita la tassazione personale?
Le imposte USA sono sempre detraibili in Italia?
Cosa comprende la consulenza strategica?
Consultation Options
Property crosses borders;
so must its architecture.
Choose an introductory call to discuss fit and scope, or reserve a strategic consultation for preliminary review of your cross-border property position.
Initial Fit & Scope
Complimentary Discovery Call
An introductory conversation to understand your situation, determine whether the firm is the right fit and define the scope of a possible engagement. No technical tax, legal, estate planning, investment or financial advice is provided during this call.
The pre-call questionnaire must be completed before the appointment is confirmed.
Strategic Preliminary Review
Real Estate Tax Consultation
Includes preliminary review of submitted information, strategic discussion with Laura Giacomini, identification of key ownership, rental-income, reporting, FIRPTA and disposal issues, and an initial action plan. The fee is credited toward future professional services if a formal engagement is established.
Payment is required at booking via Stripe. The pre-consultation questionnaire must be completed before confirmation.
Rescheduling requests require at least 24 hours’ notice. No-shows or late cancellations for paid consultations may not be refundable. Formal advice is provided only after a written engagement has been accepted and signed.