U.S. citizens are taxed on their worldwide income. They must figure gain or loss on the sale of foreign real property. If the foreign property is a residence, the home sale exclusion may apply. Note: If foreign taxes are paid on the sale, this may trigger a deduction or credit for those taxes.
An annual payment of money by a company or individual to a person called the annuitant. Payment is for a fixed period or the life of the annuitant. Tax consequences depend on the type of contract and funding.