Sold home in Norway

[Possi]

My client receives the equivalent of SS in Norway. She has an account there, where she deposits her SS, and we do the FinCen (FBAR) every year for the account she has. She regularly visits family there and owned an inherited vacation cottage there with her sister.

Last year, she and her sister sold the vacation cottage.

The vacation cottage sale is not taxable in Norway. Is it taxable here? Where do I go to study this?

Thanks!

[Lynn EA USTCP in Louisiana]

Your client lives in the US? Your client is a US citizen, or green card holder?  US citizens, no matter where they live, and green card holders are required to report their worldwide income. 

Yes, your client must report the sale of the house in Norway. She needs to provide you with the FMV on the date of death of the person she inherited it from, the cost of any improvements or renovations, and a copy of the sale papers (translated into English).

[Possi]

My client is a US Citizen, yes. I am on the right track, then. I told her when she sold it last year that I would need exactly that. FMV on date of death and improvements.