I am a dual UK/US citizen living in the UK. I sold my London property last year and bought another a few weeks later. The transaction was handled via the usual UK conveyancing process and the proceeds of the sale were kept in my solicitor's client account to fund the purchase of the new property, disbursement of costs, stamp duty, etc.
I will pay capital gains in the UK and US, but my question relates to the reporting of my solicitor's client account - do I need to report it for FBAR/FATCA as the proceeds from the sale of the first property exceeded the reporting threshold?
Apologies if this has already been dealt with, I'm new around here and would appreciate any advice.
