US Tax Liability

U.S. Tax Libility when purchasing property in Los Cabos, Mexico. OWNING REAL PROPERTY IN MEXICO REQUIRES SPECIAL IRS FORMS 3520 AND 3520A  IF YOUR  REAL PROPERTY IS LOCATED  IN THE FEDERAL  RESTRICTED ZONE(This is also true if you are beneficiary or creator of any foreign trust  including a fideicomiso) By Don D. Nelson, CPA, Attorney, CPA - US International & Expatriate Tax  Expert If you, as an American who does not have Mexican citizenship, own a home or other residential real property located in the "restricted zone" close to the coast in Mexico, the Mexican constitution has been construed to require that